The food and beverage industry is witnessing significant trends and changes, impacting businesses across the globe. Nestlé, a key player in the market, has recently sold its peanut allergy treatment business, Palforzia, to biopharmaceutical company Stallergenes Greer. This move comes following Nestlé’s strategic review of Palforzia and aligns with the company’s focus on core strengths and key growth drivers.
The financial details of the deal have not been disclosed. However, Nestlé will receive milestone payments and ongoing royalties from Stallergenes Greer, a London-based company specializing in allergy diagnosis and treatment. Nestlé Health Science’s CEO, Greg Behar, expresses confidence in Stallergenes Greer’s ability to continue supporting patients worldwide through the unique treatment provided by Palforzia.
Nestlé acquired Aimmune Therapeutics, the manufacturer of Palforzia, in 2020. Nevertheless, in November last year, Nestlé announced its plans to explore strategic options for Palforzia due to slower-than-expected adoption by patients and healthcare professionals. Reports indicated that Nestlé made a $2.1bn impairment charge for the drug earlier this year, which led to their decision to seek potential buyers.
As a part of its strategic focus, Nestlé has been sharpening its focus on consumer care and medical nutrition within its health science unit. This move has also prompted Nestlé to shut down two health science plants in the US.
Stallergenes Greer, a global leader in allergen immunotherapy, is a privately-held business operating in 19 countries with manufacturing facilities in France and the US. The deal with Nestlé for Palforzia provides Stallergenes Greer with an opportunity to further develop and expand its portfolio of allergy treatment solutions.
