Nestlé divests its peanut allergy treatment business
Nestlé has divested Palforzia, its peanut allergy treatment business, to Stallergenes Greer, a biopharmaceutical company that specialises in the diagnosis and treatment of allergies. The transaction was closed upon signing.
Last year, Nestlé announced it would conduct a strategic review of Palforzia. It will now receive milestone payments and ongoing royalties from Stallergenes Greer.
Greg Behar, CEO of Nestlé Health Science, said Nestlé is confident that Stallergenes Greer will take Palforzia forward, allowing Nestlé Health Science to focus on its strengths and growth drivers.
There will be a customary transition period to ensure business continuity and give patients uninterrupted access to the treatment.
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