Nestle Divests Peanut-Allergy Drug on Disappointing Uptake
- Swiss food company gives up on first FDA-approved treatment
- Nestle will receive milestone payments and royalties from drug
Updated on
Nestle SA sold its peanut-allergy medicine business to Swiss health-care group Stallergenes Greer after the food company gave up hopes that it would become a blockbuster treatment.
The price for Palforzia, the first peanut-allergy treatment to win approval from the US Food and Drug Administration, was not disclosed. Nestle said Monday it will receive milestone payments and royalties from closely held Stallergenes. In July, Bloomberg News reported that Stallergenes had been in talks about Palforzia.
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Nestle Divests Peanut-Allergy Drug on Disappointing Uptake