Nestle S A : Nestlé acquires Zenpep, expanding its medical nutrition business
January 27, 2020 at 02:04 am
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Nestlé today announced that it has entered into an asset purchase agreement with Allergan to acquire the gastrointestinal medication Zenpep. This move aims to expand the company's medical nutrition business and complement its portfolio of therapeutic products.
Zenpep, available in the United States, is a medication for people who cannot digest food properly because their pancreas does not provide enough enzymes to break down fat, protein, and carbohydrates. Zenpep's 2018 net sales were 237 million.
'Nestlé's acquisition of Zenpep is a strategic decision that will enhance our growing medical nutrition portfolio,' said Greg Behar, of Nestlé Health Science. '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. We have extensive experience in Zenpep's therapeutic areas of digestive diseases through our medical nutrition business and will leverage those capabilities as we grow this new business.'
The deal is expected to be finalized concurrent with the merger of Allergan and AbbVie. Financial details of this acquisition are not being disclosed.
Nestlé will take ownership of Zenpep upon closing the transaction, with customary transition support from the seller.
'Within our medical nutrition business, we work directly with healthcare professionals to educate them about our products that are used in hospitals, home healthcare, and clinics,' said Anna Mohl, Business Executive Officer of Nestlé Health Science . 'We are excited to leverage our broad capabilities and expand our team to drive rapid growth of this new acquisition. We look forward to welcoming all Zenpep employees who will join our team.'
Note to the Editors:
Zenpep is for patients with Exocrine Pancreatic Insufficiency (EPI) who cannot digest food properly because their pancreas does not provide enough enzymes to break down fat, protein, and carbohydrates. It is in the class of Pancreatic Enzyme Replacement Therapies (PERTs) containing a mixture of digestive enzymes (lipases, proteases, and amylases) intended to help the body use essential macronutrients from food. Patients with need to take at every meal or snack to assure proper absorption of nutrients, or they risk being malnourished, underweight or experiencing gastrointestinal symptoms.
Contacts:
Media:
Christoph Meier Tel.: +41 21 924 2200
Jacquelyn Campo Tel.: +41 79 598 1163
Investors:
Luca Borlini Tel.: +41 21 924 3820
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Nestlé SA published this content on 27 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 January 2020 07:04:00 UTC
Nestlé S.A. is the world's leading agri-food group. Net sales break down by category of products as follows:
- powdered and liquid beverages (26.7%): soluble coffees (Nescafé and Starbucks brands), coffee in capsules (Nespresso), chocolate drinks (Nesquik, Milo, etc.), tea drinks (Nestea), etc.;
- pet food (20.3%): brands such as Purina, Friskies, Felix, etc.;
- pharmaceutical, nutrition and well-being products (16.4%): nutritional supplements (Resource, Boost, Nutren, Optifast, Peptamen brands, etc.), infant and maternal nutrition products (NAN, illuma, Cerelac, Nido, Gerber), ketogenic beverages (BrainXpert), (Nesquick, Fitness, Cheerios, Lion, etc.), etc.;
- ready meals and seasoning products (12.5%): frozen and chilled dishes (Lean Cuisine, Hot Pockets and Stouffer's brands), soups (Maggi), etc.;
- dairy products and ice cream (11.8%): powdered milk, sweetened condensed milk, yoghurt and cream desserts, ice cream (Nido, Nesvita, Carnation, La Laitière, Coffee Mate, Nestlé Ice Cream, Dreyers, Häagen-Dazs, Extrême brands, etc.);
- chocolates, sweets and biscuits (8.7%): Kit Kat, Smarties, Cailler, Terrafertil, etc. brands;
- bottled waters (3.6%): Nestlé Pure Life, Vittel, Perrier, S. Pellegrino, etc. brands.
Net sales are distributed geographically as follows: Switzerland (1.2%), France (3.8%), the United Kingdom (3.8%), Germany (2.4%), Europe (12.8%), the United States and Canada (35%), China (5.9%), Asia and Oceania (21.4%) and Latin America (13.7%).