However it brings up a funny story: the original name is Ovomaltine, not Ovaltine, referring to the egg (ovum) and malt ingredients (I think there's no eggs inside anymore). But there was a typo in the trademark application for UK early on, and the name stood like that. It's still Ovomaltine in Italy, for example.

Now, on Wikipedia there is no source for this story, and it might be possible that they decided to change the name for easier pronunciation in English, or because the connection ovum->egg was difficult anyway, or other unknown reasons, but I want to believe the first version anyway.