It’s less common for them to admit as much and reverse tack after just two years.
Nestlé originally touted potential annual sales of $1 billion for the drug, which had received U.S. Food and Drug Administration approval.
Nestlé Chief Executive Mark Schneider can arguably afford to be honest, rather than trying to bury the M&A flop within his $330 billion behemoth.
That’s because his overall acquisition strategy seems to be working.
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