Foodservice

Nestle to divest peanut allergy treatment business

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September 4, 2023

Nestle S.A. has agreed to sell Palforzia, its peanut allergy treatment business, to Stallergenes Greer, a biopharmaceutical company that specializes in the diagnosis and treatment of allergies, according to a press release. Terms of the transaction were not revealed.

This agreement follows Nestlé's announcement last year that it would conduct a strategic review of Palforzia.

"We are confident that Stallergenes Greer will take Palforzia forward and ensure this unique treatment supports patients around the world," Greg Behar, CEO of Nestlé Health Science, said in the press release. "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.