Date: 2014-11-27
Type of information: Termination of the agreement
Compound: Inneov
Company: L\'Oréal (France) Nestlé (Switzerland)
Therapeutic area:
Type agreement: termination
Action mechanism:
Disease:
Details: * On November 27, 2014, L’Oréal and Nestlé announce the project to end the activity of their joint venture Innéov during the course of the first quarter 2015. Created in 2002, Innéov offers cosmetic nutritional supplements sold in pharmacies. The brand has not met the development expected by both partners. In 2013, Innéov achieved a turnover of 52 million euros.Both partners will keep the benefits of the research and intellectual property as well as the developments achieved which could be potentially used in their respective fields. L’Oréal and Nestlé are committed to review all employment opportunities within their Groups for all employees of Innéov. This project is being submitted for information / consultation to employee representatives according to the regulations of each country concerned.
Financial terms:
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