Nestle to Buy Aimmune Therapeutics
Retail giant Nestle has shared its plans to purchase Aimmune Therapeutics.
Monday’s Nestle offer values the biopharmaceutical company at $2.6 billion, including the $473 million that Nestle had already invested in Aimmune prior, and consists of $34.50 per share for the remaining 74.4% of the company.
The purchase of Aimmune is a major strategic move on Nestle’s part, given that over 240 million people in the world suffer from food allergies, with the peanut allergy being the most common.
Aimmune Therapeutics had recently gotten its approval from the US Food and Drug Administration (FDA) for Palforzia, making it the first drug to be approved for food allergies in children and teens.
The acquisition is expected to add to Nestle’s organic growth in as little as 1 year and cash earnings - in 2-3 years.
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