Nestlé Health Science announced on September 5 its divestment of Palforzia, a children’s peanut allergy drug, to Stallergenes Greer International AG. According to data captured in the LevinPro HC database, this transaction represents the 77th Pharmaceuticals acquisition of 2023.
Palforzia became the first drug approved by the FDA for peanut allergy in children in January 2020. At the time, it was projected that the drug could reach $1.28 billion in sales by 2024.
Backed by B-FLEXION, Stallergenes Greer International AG is a global biopharmaceutical company. It is based in Baar, Switzerland and specializes in the diagnosis and treatment of respiratory allergies through immunotherapy.
This divestment comes after a November 2022 announcement that Nestlé put Palforzia under review, citing slower-than-expected uptake by patients and doctors. The financial terms of the acquisition were not disclosed.
