Nestle is spending $2 billion to buy a company working to treat peanut allergies
Thomson ReutersNestle already owns a 25% stake in the company, which is working to develop peanut allergy treatments.
Nestle said on Monday its offer for Aimmune values the California-based drugmaker, in which it already has a stake of around 25.6%, at $2.6 billion.The U.S. company's shares have slumped this year, as the pandemic led to many clinician's offices remaining shut, leading to a slow launch of its therapy, Palforzia, which was approved in January.
"As pandemic-related disruption recedes and Palforzia's true demand begins to manifest, it will be deemed that Nestle got itself a bargain here," Raymond added. The deal helps Nestle, known for its KitKat chocolate bars and Nescafe instant coffee, expand its Nestle Health Science division which it set up in 2011 to open up a new area of business.
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