SWITZERLAND – Nestlé has successfully completed the acquisition of Aimmune Therapeutics, Inc., a biopharmaceutical company and a peanut allergy treatment maker, as it expands its fast-growing health science business.
The company which specializes in developing and bringing new treatments to people with potentially life-threatening food allergies joins Nestlé Health Science (NHSc) as a stand-alone business unit called Aimmune Therapeutics, a Nestlé Health Science company, it will manage NHSc’s global pharmaceutical business.
“Nestlé Health Science’s acquisition of Aimmune Therapeutics marks an important milestone in our constant pursuit of innovative, science-bassed nutritional solutions to support healthier lives,” said Greg Behar, CEO of NHSc.
“Aimmune’s PALFORZIA®, the first medication approved for treating peanut allergy, is a game-changer and it’s only the beginning. Aimmune’s pharmaceutical expertise and infrastructure will complement our existing research and development to further drive growth globally.”
“Nestlé Health Science’s acquisition of Aimmune Therapeutics marks an important milestone in our constant pursuit of innovative, science-bassed nutritional solutions to support healthier lives.”Greg Behar – CEO, NHSc
Aimmune will continue to be run from Brisbane, California. Andrew Oxtoby has been named as Aimmune’s President & CEO, along with a new executive leadership team. Oxtoby was previously Aimmune’s Chief Commercial Officer.
The development program for Aimmune — which consists of the potential use of PALFORZIA in toddlers and adults, multiple clinical development programs in other allergies, and the development of the monoclonal antibody AlMab7195 — will proceed as planned.
Nestle set up Nestle Health Science (NHS) in 2011 to open up a new area of business between food and pharma.
Nestle estimates that up to 240 million people worldwide suffer from food allergies, with peanut allergy being the most common, and with Aimmune, NHS will have prevention, diagnostic and medical treatment options available, Behar said.
Aimmune’s Palforzia peanut allergy treatment, which recently gained U.S. approval for children, has sales potential of US$1 billion, Behar said. The deal is expected to add to organic growth in 2021 and to cash earnings by 2022/23.
The NHS business was on track to more than double sales by 2022, from 2 billion Swiss francs (US$2.21 billion) in 2014 and was expected to close 2020 at 3.3 billion francs (US$3.6 billion).
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