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Nestle Mulls Selling Peanut-Allergy Treatment Palforzia; Outlines 2025 Targets

  • Nestle ADR (OTC: NSRGYoutlined 2025 targets at its investor seminar in Barcelona.

  • Nestlé expects to return to an underlying trading operating profit margin range of 17.5% - 18.5% by 2025, following the margin impact of a sharp increase in cost inflation in 2021 and 2022.

  • The company also expects to deliver an annual underlying EPS growth range of 6% - 10% in constant currency over the period 2022 to 2025.

  • FY22 Outlook: The company currently expects organic sales growth of 8% - 8.5% (prior view around 8%). It continues to expect underlying earnings per share in constant currency and capital efficiency to increase.

  • Nestlé also decided to explore strategic options for Palforzia, the peanut allergy treatment, citing slower-than-expected adoption by patients and healthcare professionals.

  • The company expects to complete the review in the first half of 2023.

  • "We did have high hopes for this business,” Bloomberg reported citing CEO Mark Schneider. Instead of a blockbuster, Palforzia looks more like a niche therapy, he added.

  • Buyback: Nestlé also confirmed its ongoing program to repurchase CHF 20 billion of its shares over the period 2022 to 2024.

  • Nestlé aims to maintain its practice of increasing its dividend year-on-year in Swiss francs.

  • Price Action: NSRGY shares closed higher by 0.11% at $119.40 on Monday.

  • Photo Via Company

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