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Nestle divests peanut allergy business Palforzia
Global Banking & Finance Review®
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ZURICH (Reuters) – Nestle has divested its peanut allergy treatment
ZURICH (Reuters) – Nestle has divested its peanut allergy treatment business Palforzia, the Swiss food company said on Monday, following its strategic review of the division.
Nestle said it has offloaded Palforzia to Stallergenes Greer, a biopharmaceutical company which specializes in the diagnosis and treatment of allergies.
Nestle will receive milestone payments and ongoing royalties from Stallergenes Greer, it said.
(Reporting by John Revill, Editing by Friederike Heine)
Divestment is the process of selling off subsidiary business interests or investments. Companies may divest to focus on core operations, improve financial performance, or respond to regulatory requirements.
Milestone payments are payments made upon the achievement of specific goals or milestones in a contract. They are commonly used in business transactions, particularly in the pharmaceutical industry.
Royalties are payments made to the owner of a particular asset for the right to use that asset. In business, this often refers to payments made for the use of intellectual property.
Corporate strategy is the overall plan for a company to achieve its goals and objectives. It encompasses decisions about resource allocation, business direction, and competitive positioning.
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