Novartis merging OTC, nutrition businesses into new Consumer Health division.

NOVARTIS MERGING SELF-MEDICATION AND NUTRITION UNITS into a new global Consumer Health division and focusing the nutrition segment on health nutrition and functional food, the company announced Aug. 27. Combining the worldwide over-the-counter drug and nutrition businesses "will help us accelerate our pace in shaping and penetrating new market segments such as the emerging field of functional food, whose size is estimated to double to over $20 bil. U.S. dollars in annual sales within four years," Novartis said.