Global chocolate behemoth Nestle is continuing to expand beyond its key sweet-tooth business... taking over full ownership of Aimmune Therapeutics, the U.S. based maker of first and only peanut allergy treatment for children approved by the FDA, for $2 billion.
The deal announced Monday will add more fire power to the Nestle Health Science unit set up in 2011 to explore the intersection of food and pharma.
It is estimated that 1.6 million teens and children in the U.S. alone have peanut allergies…
And some 240 million people worldwide suffer from food allergies, with peanut allergy being the most common.
With the Nestle-Aimmune deal, Nestle will have access to prevention, diagnostic and medical treatment options, which could eventually rake in billions of dollars in sales.
Nestle and Aimmune started working together in 2016. Nestle already owned a 25 percent stake in its partner.