Chinese Probe Forces Baby Milk Price Cut

by swisscham in Hospitality, Retail, Tourism

Swiss food giant Nestlé has pledged to slash the price of its baby milk formulas sold in China by as much as 20% following a Chinese government investigation into alleged price fixing. Demand for Western formulas in China has rocketed since tainted local supplies caused the deaths of infants in 2008. But the Chinese authorities suspected that foreign firms were taking unfair advantage of the surge in interest for their products. Vevey-based Nestlé responded to the probe by announcing a range of price cuts to its Wyeth Nutrition products. Nestlé bought Wyeth from United States firm Pfizer for USD 12 billion (CHF 11 billion) last year in a bid to boost its global footprint in infant nutrition, especially in Asia.

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