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Bloomberg
Nestle SA set new targets for profit growth in coming years and said it’s starting a strategic review of its Palforzia peanut-allergy business.
Underlying earnings per share should rise 6% to 10% annually in constant currency through 2025, the maker of Nespresso capsules and DiGiorno meals said.
Nestle said it’s reviewing options for Palforzia after a slower-than-expected performance, and the review should be complete in the first half of next year. Nestle acquired Aimmune Therapeutics Inc, the maker of the Palforzia peanut drug allergy treatment, in 2020.
The company also raised its sales forecast for this year to organic growth between 8% and 8.5%.