Oak Stone Limited Comments On Nestle As They Agree To Acquire Allergy Treatment Maker Aimmune For $2.6 Billion

TAIPEI, Taiwan–(BUSINESS WIRE)–Taipei-based financial management company Oak Stone Limited has commented on Nestle SA after it announced that it has entered into a definitive agreement to acquire U.S.-based biopharmaceutical company Aimmune Therapeutics Inc. through its Nestle Health Science (NHSc) subsidiary.

“Nestle has confirmed it would offer $34.50 per share for the remaining 74.4%, which it does not currently own, of peanut allergy drug manufacturer Aimmune Therapeutics, as it introduces what it believes will be a lucrative treatment to add to its growing health and wellness product portfolio,” commented Head of Wealth Management at Oak Stone Limited, James Burnley.

The offer gives the California-based biopharmaceutical a company valuation of $2.6 billion, which includes the $473 million that Nestle had previously invested in Aimmune, according to data collected by Oak Stone Limited.

Around 240 million people suffer food allergies worldwide, the most common being peanut allergy.

“The deal price represents a 174% premium to Aimmune’s closing share price of $12.60 on August 28,” commented Michael Pearson, Head of Corporate Equities at Oak Stone Limited. “The acquisition which is scheduled to close in the fourth quarter of this year and funded in cash on hand will be accretive to Nestle’s organic growth in 2021 and will contribute to cash earnings by 2022/2023,” added Michael.

In January, Aimmune Therapeutics received approval from the U.S. Food and Drug Administration (FDA) for Palforzia, making it the first licensed treatment for food allergies in children and teens.

“Aimmune’s Palforzia is the first and only FDA-approved medication to help reduce the frequency and seriousness of allergic reaction to peanuts in children aged 4 to 17, including anaphylaxis,” Nestle stated, adding that “the acquisition is an expansion of NHSc’s food allergy portfolio, providing a wider range of treatments for children living with food allergies.”

About Oak Stone Limited

Oak Stone Limited was established in late 2014 within the financial heart of Taipei, Taiwan. The company has since grown into a leading wealth management company in the Asia-pacific region, serving both individual clients and institutions.

Contacts

Yuan Cui, Head of Research & Analysis

yuan.cui@oakstonemanagement.com
Oak Stone Limited, 10F No. 178, Section 3, Minquan East Road,

Songshan District, Taipei City, Taiwan