Nestlé is reported to be discussing the potential sale of its peanut allergy remedy Palforzia to health specialist Stallergenes Greer.
According to news agency Bloomberg, quoting unnamed sources, talks between the two sides about a potential deal for Palforzia are ongoing. But they warned that a deal is not definite and that other bidders could surface.
London-based biopharmaceutical company Stallergenes, a self-styled “global leader in allergen immunotherapy” is a privately-held business with a presence in 19 countries and manufacturing facilities in France and the US
Nestlé acquired Aimmune Therapeutics, the California-based manufacturer of Palforzia in 2020 in a $2.6bn deal. It had first invested in Palforzia four years earlier.
But in November, Nestlé said it was looking at its “strategic options” for Palforzia.
Bloomberg reported that earlier this year the company made a $2.1bn impairment charge for the drug.
And in March, reports suggested KitKat chocolate and Maggi sauces owner Nestlé, the world’s largest food manufacturer, had embarked on looking for buyers for Palforzia and had hired investment bankers at Evercore to see what interest there is in the unit.
Palforzia sits within Nestlé’s Nutrition and Health Science unit. In its annual report for 2022, the company said it was “sharpening the focus [of the unit] on consumer care and medical nutrition”.
On the Palforzia strategic review, Nestlé said it followed “slower than expected adoption by patients and healthcare professionals”.
In May, Nestlé said it was to shut two health science plants in the US.
Just Food asked the businesses for their response to the Bloomberg story. Nestlé said it does not comment on rumours.
