
Ovaltine powdered drink mix has been around for more than a hundred years. I remember stirring the malt-flavored powder into milk when I was a child. I preferred the chocolate milk powders, but my mother insisted that Ovaltine was better for me because it had lots of vitamins.
Apparently Ovaltine has always be considered a health drink. A 1926 advertisement emphasized how it could improve sleep quality:
Taken at night, a cupful of Ovaltine brings sound, restful sleep, quickly and naturally.
The word-heavy advertisement was aimed at women and contained testimonials. It included persuasive text and highlighted how Ovaltine would improve the lives of women who used it:
When you go to bed do your nerves stay up? Leaving you dragged out on the morrow –your morning logy, your energies drained by afternoon?
Modern science has found a natural way (a way without drugs) to overcome this; a way to restful sleep that quickly restores your tired mind and body.
Morning finds you a new woman. You are fresh, clear-eyed, buoyant. Youthful in looks and spirit. And, you have the energy to carry you right through the day and the evening’s social activities.
Source: Ladies Home Journal (July, 1926)

I don’t think I’ve ever had Ovaltine, but when I come across the brand name, I always think of the film “A Christmas Story.” Ralphie got his first lesson in marketing when he decoded a secret message and it was “Drink your Ovaltine.”
I see it mentions women’s “nerves”. An old excuse for everything and for women not getting the medical attention they need. I have run into that excuse in my lifetime instead of doctors looking for the real medical issue.
Mom loved Ovaltine and she always had it in the house, I loved it too, but my brothers preferred regular chocolate. I don’t remember her ever saying anything about health benefits. Probably by then they gave up on that sales pitch.
I drink a glass of it, either chocolate or plain malt, most every morning.