Novartis has agreed to sell its Gerber baby food business to Nestle for $5.5 billion in cash, completing the company’s divestiture program and allowing it to focus on healthcare with pharmaceuticals at the core. The sale is expected to close by the second half of 2007. “Over the past decade we have continuously invested in R&D, strengthening our innovation power and building our healthcare businesses, particularly pharmaceuticals, while divesting over 50% of our non-core, non-...