Nestle sells peanut allergen Palforzia

05-Sep-2023 - Switzerland
Computer-generated image

Symbolic image

(dpa-AFX) Food giant Nestlé has found a buyer for its peanut allergy drug Palforzia. The business, which Nestlé put in the shop window last November as part of a strategic review, will go to Stallergenes Greer, a biopharma company headquartered in London. Under the agreement, Stallergenes Greer will make milestone payments and ongoing royalties to Nestlé, according to a statement. However, no further financial details were provided. The transaction was completed immediately upon signing, it adds.

The drug, which has been approved in the EU and U.S. since 2020 and was developed by Nestlé subsidiary Aimmune, has sold less well than Nestlé expected. That's why the company had already announced last fall that it would seek a buyer for the drug.

Palforzia is an immunotherapy that can be used in children diagnosed with peanut allergy and administered to adults in conjunction with a peanut-free diet. Nestlé had acquired the developer Aimmune in 2020 for 2.3 billion Swiss francs.

Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.

Other news from the department business & finance

Most read news

More news from our other portals