FMCG multinational Nestlé is expanding its medical nutrition business with the acquisition of gastrointestinal drug Zenpep. The medication, which is available in the US, is designed to aid digestion for people with pancreatic problems.
In 2018, Zenpep’s net sales were USD 237 million. Nestlé said the acquisition will complement the brand’s portfolio of therapeutic products.
“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,” Greg Behar, CEO of Nestlé Health Science.
“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 merger of Zenpep parent Allergan with pharmaceutical company AbbVie is also taking place at the same time.
Anna Mohl, business executive officer of Nestlé Health Science USA said the company is excited to welcome all Zenpep employees and leverage the broad capabilities to drive growth.
Financial details of the deal were not disclosed.