Trending: Nestle Divests Peanut-Allergy Business Palforzia
04 9월 2023 - 6:55PM
Dow Jones News
0922 GMT - Nestle is among the most mentioned companies across
news items over the past six hours after selling its peanut-allergy
medicine business Palforzia, according to Factiva data. The Swiss
packaged-food giant closed the deal with Stallergenes Greer, a
biopharmaceutical company specialized in the diagnosis and
treatment of allergies. Financial details weren't disclosed, but
Nestle said it will receive milestone payments and royalties from
the Swiss healthcare group. The divestment came after Nestle
launched a strategic review of the business in 2022, giving up
hopes that the Palforzia peanut-allergy drug could become a
blockbuster therapy due to lower-than-expected demand from doctors
and patients. Palforzia, which aims at lessening the frequency and
severity of allergic reaction to peanuts, was approved by the U.S.
Food and Drug Administration in 2020. Nestle acquired the business
later that year from U.S. company Aimmune Therapeutics in a $2.6
billion deal. Dow Jones & Co. owns Factiva.
(giulia.petroni@wsj.com)
(END) Dow Jones Newswires
September 04, 2023 05:40 ET (09:40 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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