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Nestlé to acquire remaining shares in Aimmune for $2.6 billion

pharmafile | September 2, 2020 | News story | Research and Development, Sales and Marketing Aimmune, acquisition, nestle, pharma 

Food and drink giant Nestlé has confirmed it is in motion to scoop up the remaining shares in Californian biotech firm Aimmune in a deal valued at $2.6 billion, it has emerged.

This buyout comes after a number of investments from Nestlé to increase its share of the biotech over the years, beginning in 2016 with a payment of $145 million. This was followed in 2018 by a subsequent payment of £30 million as part of an initial public offering, as well as a further investment of $98 million.

Aimmune’s work focuses on the treatment of food allergies, and the company made headlines in the end of January this year with the FDA approval of its peanut allergy therapy Palforzia (Peanut Allergen Powder-dnfp).

Following the approval, Nestlé invested an additional sum of $200 million in Aimmune, bringing its total investment to $473 million, representing around 25% of the company’s total value. On announcement of the deal, Aimmune’s share price shot up by 170%. Under the deal, Nestlé will acquire all remaining shares of the biotech for $34.50 per share.

“Delivering Palforzia, the world’s first treatment for food allergy, is a game-changing proposition in the biopharmaceutical industry and is transformative for the lives of millions of people living with potentially life-threatening peanut allergy,” explained Jayson Dallas, President and Chief Executive Officer at Aimmune. “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.”

The merger is projected to close in the final quarter of this year, until which time Aimmune will continue to operate as separate entity.

Matt Fellows

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