Nestle will pay US$2 billion to buy the remaining stake in Aimmune Therapeutics Inc, gaining full ownership of the first U.S.-approved peanut allergy treatment which has struggled with a slow launch due to the coronavirus pandemic, Reuters reports. Nestle said on Monday its offer for Aimmune values the California-based drugmaker, in which it already has a stake of around 25.6 percent, at US$2.6 billion. Aimmune’s shares more than doubled on Monday, just shy of Nestle’s offer price of US$34.50 per share. The U.S. company’s shares have slumped this year, as the pandemic led to many clinician’s offices remaining shut, leading to a slow launch of its therapy, Palforzia, which was approved in January.

Source: The Standard August 31, 2020 15:22 UTC