Nestle is buying a business that prevents food allergies.
VEVEY, THE SWISS – A deal has been reached for Nestle SA to pay $2.6 billion to acquire Aimmune Therapeutics, Inc., located in Brisbane, California. Food allergy prevention treatments are created and marketed by Aimmune Therapeutics.
“This deal unites Nestle’s leadership in nutritional science with one of the most creative businesses in the treatment of food allergies,” stated Greg Behar, CEO of Nestle Health research, a Nestle business unit. “By working together, we can provide a broad range of solutions that have the potential to significantly improve the lives of people worldwide who suffer from food allergies.”
Palforzia is a medication manufactured by Aimmune that has been licenced by the FDA to help lower the incidence of allergic reactions to peanuts in children between the ages of 4 and 17.
“The partnership with Nestle Health Science acknowledges the worth generated by years of devotion and passion to our objective by the Aimmune team,” stated Aimmune’s president and CEO, Jayson Dallas, MD. Palforzia and our pipeline will have additional support thanks to this acquisition, which will increase their potential for patients with food allergies worldwide.
Nestle owned a 26% share in Aimmune Therapeutics when the deal was announced. The business made its first investment in 2016 and other investments in 2018 and earlier this year. Closing of the purchase is anticipated to occur in the fourth the fourth quarter of 2020.
Nestle Health Science and IM HealthScience, located in Boca Raton, Florida, agreed into an acquisition agreement earlier this month. IM HealthScience creates goods with an emphasis on unmet medical requirements that are offered for retail and internet sales. The corporation is the owner of brands like Fibre Choice, FDgard, IBgard, and REMfresh. For the dietary therapy of functional dyspepsia and irritable bowel syndrome, there is FDgard and IBgard. REMfresh is a melatonin supplement for sleep, and Fibre Choice is a range of prebiotic fibres. The agreement’s terms were kept a secret.