Nestlé’s Palforzia Peanut Allergy Treatment Finds New Owner in Stallergenes Greer

Nestlé’s Palforzia Peanut Allergy Treatment Finds New Owner in Stallergenes Greer

(IN BRIEF) Nestlé has successfully divested its peanut allergy treatment business, Palforzia, to biopharmaceutical company Stallergenes Greer. This move follows Nestlé’s strategic review of its portfolio and aims to ensure business continuity while providing patients uninterrupted access to the treatment. The transaction includes milestone payments and ongoing royalties for Nestlé. The collaboration between the two companies aims to enhance allergy treatment innovation and patient outcomes.

(PRESS RELEASE) VEVEY, 4-Sep-2023 — /EuropaWire/ — Nestlé (SWX: NESN), a Swiss multinational food and drink processing conglomerate and the world’s largest food & beverage company, has officially completed the divestment of its pioneering peanut allergy treatment, Palforzia, to Stallergenes Greer. Stallergenes Greer, renowned for its expertise in biopharmaceuticals and allergy diagnosis and treatment, has seamlessly taken over the reins of this transformative business. The transaction, marking a strategic alignment, has swiftly concluded following the signing of the agreement.

The decision to divest Palforzia follows Nestlé’s strategic vision, as declared last year, to initiate a comprehensive evaluation of its portfolio. With the transition now complete, Nestlé is set to receive a series of milestone payments, accompanied by ongoing royalties from Stallergenes Greer, ensuring a mutually beneficial partnership.

To uphold a commitment to patients and uninterrupted healthcare, a standard transition phase will be implemented. This transitional period is designed to ensure a seamless continuation of operations, assuring patients sustained access to Palforzia’s innovative treatment. Both Nestlé and Stallergenes Greer stand dedicated to a smooth transition, aiming to preserve the quality and accessibility of this critical allergy treatment.

This milestone divestment stands as a testament to Nestlé’s strategic business decisions and its unwavering dedication to elevating health-focused solutions. The collaboration with Stallergenes Greer is poised to drive enhanced outcomes for patients while propelling innovation within the allergy treatment landscape.

“We are confident that Stallergenes Greer will take Palforzia forward and ensure this unique treatment supports patients around the world,” said Greg Behar, CEO of Nestlé Health Science. “At the same time, the divestiture allows Nestlé Health Science to focus on its core strengths and key growth drivers.”

Contacts:

Media:
Christoph Meier  Tel.: +41 21 924 2200
mediarelations@nestle.com

Investors:
Luca Borlini  Tel.: +41 21 924 3509
ir@nestle.com

SOURCE: Nestlé