EVP of Nutrition at Abbott Daniel Salvadori joins Yahoo Finance to discuss the company's major partnership with Real Madrid, the partnership's goal to target malnutrition, and Abbott's mission to support children.
ANJALEE KHEMLANI: And with me, to talk to you about everything to do with malnutrition is Abbott's Executive Vice President of Nutrition Daniel Salvadori. Daniel, absolute pleasure to have you with us today. Obviously, a really big announcement from Abbott's partnering with Real Madrid, a well-known Spanish League soccer team.
So this is obviously a big deal announcement. But underlying it is a very serious topic, which is malnutrition globally. Tell us a little bit about how this partnership came to be.
DANIEL SALVADORI: Thank you, Anjalee. Good morning to you, and really happy to be here today. We believe that a sustainable future start with good health, and good health start with good nutrition. And that's frankly, especially true for kids. Yet, one out of five kids worldwide is malnourished. And unfortunately, there is very little awareness about this issue.
So today we announce a partnership, which is the first of its kind, really, between Real Madrid and Abbott. That Abbott we have been focusing on malnutrition for quite some time. But what we are endeavoring to do and really striving to do here with Real Madrid is help identify, educate, and support the need for malnutrition for kids worldwide. So I'm really excited about this because, I think, together we have a huge opportunity.
ANJALEE KHEMLANI: Absolutely, and it's something that hasn't been discussed as much. I want to talk about Abbott's role in this though. Clearly, you've had a lot of focus on nutrition. Pedialyte, of course, we know is the big brand there. How do you plan on moving forward with this partnership? Does it help to elevate Abbott's nutritional segments and what are the plans to leverage this?
DANIEL SALVADORI: Yeah, so it's a great question. First step is we want to really help identify the need. So help screen kids, starting with the school and the clinics that Real Madrid is operating in 80 countries around the world, because very often, the problems start with the lack of awareness then further down the road, we also want to help think about new product.
But first of all, we need to understand the issue even better and then find new product, a new solution. Today you mentioned Pedialyte, definitely one of our key product for rehydration, but not the only one. Abbott has been in the business of malnutrition for quite some time with some solutions, which are well known.
And you may some of the great brand and some other that are less known. But we have a heritage of 130 years of health care. And we put a lot of science and a lot of years of studies in all of our product because we believe in the power of science behind the nutritional product we provide.
ANJALEE KHEMLANI: I spoke about this with CEO Robert Ford recently, just the idea that Abbott has become this sort of well-known brand at home, much more so than in the past. Do you see this playing a role, as well as, especially overseas and reinforcing that? And do you think that this partnership is a result of the elevated presence that Abbott has had throughout the pandemic?
DANIEL SALVADORI: Absolutely. Look, I mean, kids have suffered throughout the pandemic, perhaps more than anybody else. But we know that soccer is a universal language, and soccer teaches us that we can all believe, we can all dream. I think, kids' dream are probably the most precious one. But for those dreams to become a reality, we need to provide kids with the proper support so that they can develop and become the best they can be.
And I think Abbott is really a great platform. We have a unique mission. We have, as you know, four businesses. We help screen, identify, diagnose diseases. We treat them with devices, with pharmaceutical. But nutrition is really the bedrock foundation of good health. That is true for adult, but that is so much more true and important for kids. So I think with this partnership, we can really help realize those dream and help support kids worldwide.
ANJALEE KHEMLANI: And lastly, a lot of conversation around soccer here in the US now with the prominence of the show "Ted Lasso". I just wondered, do you think that this will also help bring more awareness to the sports here in the US because, obviously, this is a bigger deal abroad?
DANIEL SALVADORI: Absolutely. Look, I mean, again, sport is a universal language, and the first step in the fight for malnutrition is creating awareness. So I think sport can help boost that awareness, which is really the first step is being aware of the issue and then tackle it all together.
I also love the fact-- and here we're teaming up: great brand, great companies, great groups of people, from the private, the business sector trying to help the kids, trying to help the world become a better place.
ANJALEE KHEMLANI: All right, well, we'll have to leave it there. Daniel Salvadori, Executive Vice President of Abbott's Nutritional Segment, thank you so much for joining us today. I really appreciate it.