$2.6bn Aimmune acquisition sees Nestlé create ‘global leader’ in food allergy prevention, treatment

Nestlé Health Science (NHSc) is aiming to create a global leader in food allergy prevention and treatment with the $2.6 billion acquisition of California biopharma Aimmune Therapeutics.

The deal grants NHSc access to Aimmune’s Palforzia, the first and only FDA-approved treatment to help reduce the frequency and severity of allergic reaction to peanuts – including anaphylaxis – in children aged 4 through 17.

The acquisition is an extension of NHSc’s food allergy portfolio, creating a broader spectrum of solutions for children living with food allergies.

“This transaction brings together Nestlé’s nutritional science leadership with one of the most innovative companies in food allergy treatment,” said Nestlé Health Science CEO Greg Behar.

“Together we will be able to offer a wide range of solutions that can transform the lives of people suffering from food allergies around the world.”

Jayson Dallas, President and CEO of Aimmune, added: “This acquisition ensures a level of support for Palforzia and our pipeline that will further enhance their potential for patients around the world living with food allergies.”

NHSc currently has a total investment in Aimmune of $473 million, an approximate 25.6% equity ownership stake. NHSc made its initial investment of $145 million in Aimmune in November 2016, followed by further investments of $30 million in February 2018, $98 million in November 2018 and $200 million in January 2020.

As per this latest agreement, Nestlé S.A.’s wholly-owned subsidiary, Société des Produits Nestlé S.A. (SPN), will commence a cash tender offer to acquire all outstanding shares of Aimmune common stock that are not already owned by NHSc for $34.50 per share in cash, including the shares of Aimmune held by NHSc, of approximately $2.6 billion.

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