Food giant Nestlé has announced the acquisition of gastrointestinal medicine brand Zenpep, increasing its presence in the medical nutrition sector.
Nestlé acquires the brand from pharmecutical firm Allergan, subject to the latter's merger with AbbVie. Nestlé will take ownership of Zenpep upon the closing of that transaction.
The financial details of the acquisition have not been disclosed.
Zenpep, which is available in the US, is a medication for people that suffer from Exocrine Pancreatic Insufficiency (EPI), meaning they cannot digest food properly, due to their pancreas not providing enough enzymes to break down fat, protein, and carbohydrates.
'Strategic Decision'
"Nestlé's acquisition of Zenpep is a strategic decision that will enhance our growing medical nutrition portfolio," commented Greg Behar, CEO 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."
Behar added that Nestlé has "extensive experience" in the area in which Zenpep is targeted, "and will leverage those capabilities as we grow this new business".
Zenpep posted sales of $237 million in 2018.
Last summer, AbbVie announced it was to buy Allergan for $63 billion (€55.3 billion), with the deal expected to be cleared by competition authorities in the coming weeks.
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