SWITZERLAND – Nestlé has entered into an asset purchase agreement with Allergan to acquire the gastrointestinal medication, Zenpep as the company moves to expand its medical nutrition business and complement its portfolio of therapeutic products.
Zenpep, available in the United States, is a medication for people who are unable to properly digest foods due to exocrine pancreatic insufficiency.
“Nestlé’s acquisition of Zenpep is a strategic decision that will enhance our growing medical nutrition portfolio,” said Greg Behar, CEO of Nestlé Health Science.
“This is a significant opportunity for our business in the United States to add a complementary product to our existing range of nutrition products that support food ingestion, digestion and absorption.
“We have extensive experience in Zenpep’s therapeutic areas of digestive diseases through our medical nutrition business and will leverage those capabilities as we grow this new business.”
The deal is expected to be finalized concurrent with the merger of Allergan and AbbVie. Nestlé will take ownership of Zenpep upon closing the transaction, with customary transition support from the seller.
“Within our medical nutrition business, we work directly with healthcare professionals to educate them about our products that are used in hospitals, home healthcare, and clinics,” said Anna Mohl, Business Executive Officer of Nestlé Health Science USA.
“We are excited to leverage our broad capabilities and expand our team to drive rapid growth of this new acquisition. We look forward to welcoming all Zenpep employees who will join our team.”
Terms of the transaction were not disclosed but according to a statement released by Nestle, Zenpep’s 2018 net sales were US$237 million.
In November last year, Nestlé Health Sciences also entered into a strategic collaboration with Amsterdam based biotech company, Caelus Health for the development of food supplements.
The aim the collaboration is to further develop and commercialize food supplements based on specific microbiota for the purpose of early intervention and nutritional management of diabetes and certain liver disorders.
Nestlé Health Science recently launched a unique innovation for oncology patients, the ‘New BOOST Soothe Nutritional Drink’ developed in collaboration with oncology centers and cancer patients.
The innovative drink provides protein and calories as well as a cooling, soothing effect to help patients get the nutrition they need while dealing with certain side effects of cancer treatment, such as oral discomfort and taste changes.
The company has also acquired Persona, a personalized vitamin business founded in 2017, to further expand into personalized nutrition to meet growing consumer demand.