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Nestle Plans to Pay $2 Billion to Own Aimmune’s Allergy Treatment

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Nestle is planning to pay $2 billion to get full ownership of peanut allergy treatment provider Aimmune Therapeutics (AIMT.O).

With this deal, the Swiss company wishes to expand its quickly-growing health science business.Popular for its KitKat chocolate bars and Nescafe instant coffee, Nestle (NESN.S) laid down Nestle Health Science (NHS) in 2011 to rev up a new area of business between food and pharma.Nestle said in a statement that its offer for Aimmune values the California-based biopharmaceutical firm.

The company is working with the firm since 2016 and in which it already has a stake of about 25.6%, at $2.6 billion.“Aimmune has $261 million in cash and $134 million in debt.

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