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Nestle Sells Peanut-Allergy Treatment Business to Stallergenes Greer
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Nestle said it has sold its Palforzia peanut-allergy treatment business to biopharmaceutical company Stallergenes Greer. The Swiss consumer-goods company said Monday that it will receive milestone payments and royalties from Stallergenes Greer.
The deal was closed upon signing, Nestle said. The sale allows Nestle’s health-science operations to focus on its core strengths and key growth drivers, the unit’s Chief Executive Greg Behar said.
Nestle last year said that it would conduct a strategic review of Palforzia after a slower-than-expected adoption by patients and healthcare professionals. Write to Adria Calatayud at adria.calatayud@dowjones.com
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