ZURICH: Nestle plans to pay US$2 billion to gain full ownership of peanut allergy treatment maker Aimmune Therapeutics, as the Swiss company expands its fast-growing health science business.
"Aimmune has US$261 million in cash and US$134 million in debt. With our prior investment of US$473 million in Aimmune, we'll be making a cash payment of just under US$2 billion," NHS head Greg Behar told Reuters in an interview. 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 in 2014, and was expected to close 2020 at 3.3 billion francs, he added.
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