Danone is the parent company of an international group of companies in the food and beverage industry. Danone operates in four lines of business: fresh dairy products, beverages, baby nutrition and medical nutrition. The fresh dairy products division offers yogurts, yogurt-style cheeses as well... More
Tuesday, Sep 178:32 AMNovartis eyecare unit probes China bribery claims
Tuesday, Sep 178:32 AM| 1 Comment
- Novartis' (NVS) eyecare unit Alcon is investigating accusations that its Chinese staff bribed doctors at over 200 hospitals in order to boost sales.
- Employees are reported to have diverted money that had been allocated for Alcon's post-marketing clinical studies on its lens implants.
- The allegations add to accusations last month that Novartis asked a worker to bribe doctors in order to help boost sales of a cancer drug.
- Danone's (DANOY.PK) baby formula unit Dumex is probing similar corruption claims.
Friday, Aug 97:44 AM
Thursday, Aug 87:32 AMChina warns of "increasingly severe" fines for firms that break law
Thursday, Aug 87:32 AM| Comment!
- China's National Development & Reform Commission (NDRC) has threatened companies with "increasingly severe" fines if they "knowingly breaking the law."
- The remarks were made by the head of the NDRC's pricing unit, Xu Kunlin, who was discussing the $110M fine levied on six foreign companies for the price fixing of baby milk formula.
- Xu said the companies deleted emails and told employees not to leave a paper trail when negotiating prices with retailers. The actions are "a clear example of knowingly violating the law," Xu said.
- The companies fined include Mead Johnson Nutrition (MJN), Abbott Labs (ABT) and France's Danone (DANOY.PK).
Wednesday, Aug 73:16 AMChina punishes six foreign firms over baby formula pricing
Wednesday, Aug 73:16 AM| 1 Comment
- China has fined six foreign companies a combined $110M for price fixing and anti-competitive practices in the market for baby formulas.
- The firms punished include Mead Johnson Nutrition (MJN), which will pay 203.8M yuan ($33.29), Abbott Labs (ABT), whose penalty is 77M yuan, and France's Danone (DANOY.PK) with a fine of 172M yuan.
- Some companies, including Nestle (NSRGY.PK), escaped punishment, as "they cooperated with the investigation, provided important evidence and carried out active self-rectification," Xinhua said.
- Analysts reckon that despite the fines, foreign companies could increase their market share, because they cut prices after China started a probe into their business practices.
- China's FDA wants to tighten the conditions for the granting of licenses for milk powder production.
Monday, May 207:23 AMDanone (DANOY.PK) says it will invest €325M ($417M) in separate deals with China Mengniu Dairy in an effort to return to the Chinese liquid milk and yogurt market. The French company will have an indirect interest of about 4% in China Mengniu Dairy through a joint venture with a goal of increasing its stake in the future. |Monday, May 207:23 AM| Comment!
Monday, Feb 189:16 AMMission accomplished at Heinz (HNZ), Nelson Peltz can turn his attention to Danone (DANOY.PK), where his fund disclosed a 1% stake in November (Trian white paper). It'll be a familiar playbook - forget acquisitions and focus on cutting costs and returning cash to shareholders. Whether an activist investor can have as much impact in France remains to be seen. |Monday, Feb 189:16 AM| Comment!
Tuesday, Jan 87:26 PMNestle (NSRGY.PK) is looking to sell nearly $1B of its Latin American assets in an effort to secure regulatory approval for its $12B purchase of Pfizer's (PFE) nutrition unit. The company is in the early stages of the process, with the assets potentially drawing interest from H.J. Heinz (HNZ), Danone (DANOY.PK), Abbott Laboratories (ABT) and Mead Johnson Nutrition (MJN). |Tuesday, Jan 87:26 PM| Comment!
Thursday, Dec 132012, 7:03 AM
Wednesday, Nov 212012, 8:37 AMMexican regulators reject Nestle's (NSRGY.PK) takeover of Pfizer's (PFE) baby foods business in the country, calculating it would give it a 71%-88% share of the market. Nestle, whose fifth largest market by sales is Mexico, says it will still try to resolve the regulators' concerns. Some sources say Danone (DANOY.PK) could be a potential bidder now for PFE’s Mexican assets. |Wednesday, Nov 212012, 8:37 AM| Comment!
Wednesday, Oct 172012, 9:18 AMDanone (DANOY.PK) can't overcome faltering economies in Italy and Spain as consumers switch to cheaper yogurt alternatives. The company's dairy division saw revenue slow to a 0.7% pace with volumes dropping. The plight of Danone has implications for yogurt sellers such as General Mills (GIS) and Nestle (NSRGY.PK) if pricing in the sector gets pushed lower. DANOY.PK -4.1% in Paris trading. |Wednesday, Oct 172012, 9:18 AM| Comment!
Friday, Oct 52012, 1:09 PMKraft Foods Europe, which is now part of Mondelez International (MDLZ -0.4%), has agreed to buy the Vitasnella snack business in Italy from Danone (DANOY.PK +1.4%) for an undisclosed sum. DANOY.PK will keep Vitasnella's yogurt and businesses, allowing Kraft to focus on a booming snack sector that is growing faster than other consumer segments as people with a busy lifestyle snap up low-value food to eat on the go. |Friday, Oct 52012, 1:09 PM| 1 Comment
Tuesday, Jul 242012, 1:38 PMThe WSJ surveys the field of "medical foods" and supplements, which manufacturers say can be used to help sufferers of dementia. The advantage for companies is that they can avoid the rigorous FDA approval process and get a product to market much more quickly, although they then can't claim it helps cure illnesses. Companies involved include Nestle (NSRGY.PK) and Danone. |Tuesday, Jul 242012, 1:38 PM| Comment!
Tuesday, Jul 172012, 7:26 AMGrowth in the yogurt market outpaced the rest of the U.S. food industry since 2010 and is expected to increase even faster over the next couple of years with consumers buying and production ramping up. The dairy product has hit consumers sweet spot with nutrition increasingly in focus, while companies eye the lush margins sellers can claim. Major yogurt players: PepsiCo (PEP), General Mills (GIS), Danone (DANOY.PK). |Tuesday, Jul 172012, 7:26 AM| 1 Comment
Tuesday, Jul 102012, 3:49 PMA new joint venture between PepsiCo (PEP -0.3%) and German firm Theo Muller looks set to lead to a wide range of dairy products that will be available in supermarkets in the Northeast and Mid-Atlantic states. While PepsiCo brings to the table a strong brand and marketing muscle, Theo Muller boasts very popular products in Europe that can be adapted for U.S. markets. But it's also getting to be a crowded space, with both General Mills (GIS) and Danone (DANOY.PK) upping their bets into yogurt. |Tuesday, Jul 102012, 3:49 PM| 2 Comments
Monday, Jul 92012, 6:58 AMPepsiCo (PEP) plans to enter the yogurt market in some states in the Northeast under a new joint venture with German firm Theo Muller. Yogurt sales are on pace to increase 9% this year, after recording a 7.5% gain last year, with Dannon (DANOY.PK) and Yoplait (GIS) the leading consumer brands. |Monday, Jul 92012, 6:58 AM| Comment!
Tuesday, Jun 192012, 10:55 AMDanone (DANOY.PK) warns that strapped Spanish consumers switching to lower-priced food options will hit its results this year. CFO Pierre-Andre Terisse cut the projection for sales growth to 6.9% from around 5% and says margins will also be impacted by higher packaging costs for yogurt and baby formula. Danone trades down 7.2% in Paris, while peer Nestle (NSRGY.PK) is off 0.8%. |Tuesday, Jun 192012, 10:55 AM| Comment!
Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.