Nestle acquires Allergan business

SWISS food giant Nestle on Monday bulked up its medical nutrition business by buying Allergan’s Zenpep, a product for people whose pancreases do not provide enough enzymes to properly digest fats, proteins and sugars.
The financial terms of the transaction were not disclosed. Zenpep had sales of US$237 million in 2018.
Nestle Chief Executive Mark Schneider, who also gets Allergan product Viokace, another pancreatic enzyme preparation, in the deal, is bulking up on nutrition products that combine properties of medicine and food as the Swiss company expands in areas where growth may outpace its mainstream food business.
“This is a significant opportunity for our business in the United States to add a complementary product to our existing range of nutrition products that support food ingestion, digestion and absorption,” said Greg Behar, head of Nestle Health Science in a statement.
“Nestle’s acquisition of Zenpep is a strategic decision that will enhance our growing medical nutrition portfolio,” said Behar.
Nestle said its purchase would be finalised in tandem with the AbbVie-Allergan deal’s completion, which regulators have made contingent on the divestment of some products.
— Reuters