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    Nestle wins pricey baby food battle

    euronews (in English)

    by euronews (in English)

    Swiss group Nestle is to buy US drugmaker Pfizer's baby food business.

    The world's biggest food company will have to pay more than it had expected - just over nine billion euros - for Pfizer Nutrition in order to beat out its French rival Danone.

    Key to the high price is the fact that Pfizer Nutrition makes 85 percent of its sales in emerging markets where demand is growing.