Nestle will pay $2 billion to buy the remaining stake in Aimmune Therapeutics, gaining full ownership of the first US-approved peanut allergy treatment which has struggled with a slow launch due to the COVID-19 pandemic.
Nestle said on Monday its offer for Aimmune values the California-based drugmaker, in which it already has a stake of around 25.6%, at $2.6 billion.
Aimmune’s Palforzia therapy is the only FDA-approved treatment aimed at reducing the frequency and severity of allergic reactions to peanuts in children, Nestlé said on Monday.
The Swiss food manufacturer currently has a 25 per cent stake in Aimmune worth about $473m. It will acquire the outstanding shares it does not already own in an all-cash offer through its health subsidiary Nestlé Health Science.
The deal will value Aimmune at $2.6bn and is expected to complete towards the end of the year, Nestlé said.
Full Content: Financial Times
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