The deal, which brings Nestle’s total investment to $273 million, raises Nestle’s stake in the drug developer to about 19 percent from 14.5 percent. The two companies also extended their two-year pact to develop therapies for food allergies by two years.
In the U.S. there is no approved treatment for peanut allergies, so drugmakers see a huge opportunity in the market.
Read the full report here.
More articles on pharmacy:
Walgreens managers lose thousands in bonuses: 3 things to know
14 pharma companies post Q3 profits over $1B
Neulasta biosimilar will get $4,175 price tag
