Abbott to spin off nutrition business into independent public company with $8.5B annual sales; Salvadori named CEO

Abbott announced it will separate its global Nutrition business, which generates approximately $8.5 billion in annual sales, into a standalone public company, with Daniel Salvadori designated CEO. The separation is expected to be completed by late 2027 through a distribution of shares to Abbott shareholders. The remaining company will focus on medical devices, diagnostics and pharmaceuticals, with pro forma sales of approximately $42 billion.

Detected & updated continuously · Source: Nebula