Nestle India stock drops nearly 3 percent as food safety regulator starts legal cases over baby food

Shares of Nestle India dropped nearly three percent on Friday following news that the food safety regulator started three adjudication cases over alleged rule violations in baby food products. The regulatory body pointed out promotional claims made on two specific products, namely NAN Excella Pro Stage 1 and Lactogen Pro 1. Additionally, laboratory testing showed that a follow-up formula sample failed to meet the required standards for biotin content. The regulator stated that it had asked Nestle India for clarifications concerning these product claims before taking action.