Nestlé transfers its peanut allergy treatment, Palforzia, to biopharmaceutical leader Stallergenes Greer. This strategic divestiture follows Nestlé’s review of the sector, aligning with its focus on consumer care and medical nutrition. Stallergenes, a global allergen immunotherapy leader, is set to expand Palforzia’s reach in the allergy treatment landscape.
Nestlé Divests Palforzia Peanut Allergy Business to Stallergenes Greer
In a strategic move, global food giant Nestlé has transferred its peanut allergy treatment arm, Palforzia, to biopharmaceutical leader Stallergenes Greer. This decision comes on the heels of Nestlé’s announcement last year, signaling a comprehensive review of the Palforzia sector.
While the exact financial contours of this deal remain under wraps, it’s clear that Nestlé stands to benefit from “milestone payments and ongoing royalties.” Stallergenes Greer, headquartered in London and renowned for its expertise in allergy diagnosis and treatment, is poised to further the reach and impact of Palforzia.
Greg Behar, the driving force behind Nestlé Health Science as its CEO, conveyed robust confidence in Stallergenes Greer’s capabilities. He believes this divestiture aligns with Nestlé Health Science’s vision, allowing the division to zero in on its foundational strengths and pivotal growth avenues.
A glance at Nestlé’s 2022 annual report reveals a recalibrated focus, pivoting towards consumer care and medical nutrition. The journey with Palforzia began in 2020 when Nestlé sealed a $2.6 billion deal with Aimmune Therapeutics. However, by late 2021, the conglomerate was already mulling over “strategic options” for the drug, especially after a reported $2.1 billion impairment charge.
Stallergenes, with its global footprint in 19 countries and state-of-the-art manufacturing hubs in France and the US, is set to usher in a new era for Palforzia, reinforcing its position as a “global leader in allergen immunotherapy.”