Nestlé is reportedly discussing the potential sale of its peanut allergy remedy Palforzia to health specialist Stallergenes Greer.
According to news agency Bloomberg, talks between the two sides about a potential deal for Palforzia are ongoing. However, they warned that a deal is not definite and that other bidders could emerge.
Stallergenes, a London-based biopharmaceutical company and a self-styled “global leader in allergen immunotherapy,” is a privately-held business with a presence in 19 countries and manufacturing facilities in France and the US.
In 2020, Nestlé acquired Aimmune Therapeutics, the California-based manufacturer of Palforzia, in a $2.6bn deal. The company had initially invested in Palforzia four years prior.
However, in November, Nestlé announced that it was exploring its “strategic options” for Palforzia.
Bloomberg reported that earlier this year, the company made a $2.1bn impairment charge for the drug.
In March, reports suggested that Nestlé, the world’s largest food manufacturer and owner of KitKat chocolate and Maggi sauces, had started the process of finding buyers for Palforzia and had hired investment bankers at Evercore to evaluate the level of interest in the unit.
Palforzia is part of Nestlé’s Nutrition and Health Science unit. In its annual report for 2022, the company stated that it was “sharpening the focus [of the unit] on consumer care and medical nutrition.”
Regarding the Palforzia strategic review, Nestlé explained that it followed “slower than expected adoption by patients and healthcare professionals.”
In May, Nestlé announced its plans to shut down two health science plants in the US.
