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RNS Number : 2569L Nestle SA 04 September 2023
Nestlé Press Release
Vevey/Switzerland, September 4, 2023
Nestlé divests its Palforzia business
Nestlé announced today that is has divested Palforzia, its peanut allergy
treatment business, to Stallergenes Greer, a biopharmaceutical company which
specializes in the diagnosis and treatment of allergies. The transaction was
closed upon signing.
This agreement follows Nestlé's announcement last year that it would conduct
a strategic review of Palforzia. Nestlé will receive milestone payments and
ongoing royalties from Stallergenes Greer.
"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. "
There will be a customary transition period to ensure business continuity and
give patients uninterrupted access to the treatment.
Contacts
Media
Christoph Meier
Tel.: +41 21 924 2200
mediarelations@nestle.com (mailto:mediarelations@nestle.com)
Investors
Luca Borlini
Tel.: +41 21 924 3509
ir@nestle.com (mailto:ir@nestle.com)
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