Nestl? to Acquire US Allergy Treatment Company Aimmune for 3 Trillion KRW

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Nestl?, a multinational food company headquartered in Switzerland, has agreed to acquire Immuno Therapeutics, a U.S.-based pharmaceutical company specializing in allergy treatments, for $2.6 billion (approximately 3 trillion KRW). This move aims to accelerate efforts in the field of food allergy prevention.

Nestl? currently holds a 25.6% stake in Immuno, valued at about $473 million, and announced it will acquire the remaining 74.4% stake at $34.50 per share.

Immuno, headquartered in California, USA, is a company that has received approval from the U.S. Food and Drug Administration (FDA) for its peanut allergy treatment.

Greg Behar, CEO of Nestl? Health Science, stated, "Immuno’s peanut allergy treatment is the only FDA-approved therapy to reduce the frequency and severity of peanut allergy reactions in children," adding, "This deal will bring a new dimension to our business."

Nestl? plans to complete the transaction in the fourth quarter of this year.

The food allergy sector has been rapidly increasing in recent years. Globally, about 2.4 million people suffer from food allergies, with peanut allergies being the most common. In the United States, approximately 2% of all children have peanut allergies, a level that has increased more than fourfold since 1997.

Until now, Nestl? has actively entered the allergy prevention field by developing products aimed at reducing the risk of allergy onset in children.

Additionally, Nestl? has outperformed competitors in the consumer goods industry during the COVID-19 pandemic, supported by its plant-based products, premium pet food, and coffee sales. As consumer interest focused on health during the pandemic, the health sector, which produces supplements, meal replacements, and nutritional products, recorded double-digit growth in the first half of this year.