2 September 2020 - Deborah Wilkes
Nestlé Health Science is acquiring Aimmune Therapeutics, Akorn has received court approval for its sale to the company’s existing lenders, and Hypera Pharma has released financial results.
Nestlé to acquire Aimmune Therapeutics
Nestlé Health Science is set to acquire Aimmune Therapeutics, the US-based biopharmaceutical company specialising in treatments for potentially life-threatening food allergies.
The US Food and Drug Administration (FDA) recently approved Aimmune’s Palforzia, a prescription treatment to help reduce the frequency and severity of allergic reactions to peanuts in children.
Under the terms of the agreement, Nestlé will acquire all of the shares in Aimmune Therapeutics that it does not already own in a deal valuing the company at USD2.6 billion. It currently has an equity ownership stake of around 25.6%.
The transaction is expected to close in the fourth quarter of 2020.
Nestlé Health Science said the acquisition would expand its food allergy portfolio, creating a “broader spectrum of solutions for children living with food allergies”.
A year ago, Nestlé Health Science announced it had taken a stake in Before Brands, the US-based company that specialises in early childhood allergy prevention (click here to read the News story).
Akorn set for sale
Akorn has announced that it has received court approval for its sale to the company’s existing lenders.
In May 2020, the US-based generics, consumer healthcare and animal health company and its US subsidiaries filed for voluntary protection under Chapter 11 of the US Bankruptcy Code (click here to read the News story).
Doug Boothe, Akorn’s president and chief executive officer, said court approval for the sale was a “critical milestone that will allow us to move beyond this process under a new ownership structure in the coming weeks”.
Akorn expects the sale to be completed in the next few weeks.
Hypera releases results
Brazil’s Hypera Pharma reported sales of BRL1.05 billion (USD0.20 billion) in the second quarter of 2020, representing a rise of 7.9% compared to the same period a year earlier.
Hypera said growth had been driven by a “strong increase” in Consumer Health sell-out at the end of March 2020 as consumers rushed to buy OTC drugs at the beginning of the COVID-19 quarantine. The sell-out, added the company, had impacted sales in the second quarter rather than the first quarter.
Growth had also been boosted by the performance of the Similars and Generics business, said Hypera.
Commenting on the Consumer Health business, Hypera said its vitamins, minerals and supplements (VMS) had put in a strong performance. The company highlighted the performance of a number of brands including Biotônico Fontoura, Maracugina, Tamarine and Vitasay.
Hypera noted there had been a “significant drop” in sales of flu remedies during the period, mainly due to the social distancing rules implemented in the period.
The company said its Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) from continuing operations had risen by 58.9% to BRL449 million.
In March 2020, Hypera announced that it was strengthening its presence in Latin America by acquiring a portfolio of OTC and pharmaceutical products – including the Neosaldina brand – from Japan’s Takeda for USD825 million. The Brazilian company said the Takeda deal was the biggest transaction in its history (click here to read the News story).
The deal came soon after Hypera had announced the purchase of the Buscopan and Buscofem brands in Brazil (click here to read the News story).