(28 January 2020)DAILY MARKET BRIEF 2: Nestle to Acquire Zenpep From Allergan

Nestle SA (NESN.EB) said Monday that it has entered into an agreement with Allergan PLC (AGN) to acquire gastrointestinal medication Zenpep. "This move aims to expand the company's medical-nutrition business and complement its portfolio of therapeutic products," the Swiss food-and-beverage company said. The acquisition is expected to be finalized concurrent with the merger of Allergan and AbbVie Inc. (ABBV), according to Nestle. Financial details of the deal weren't disclosed. Available in the U.S., Zenpep is a medication for people who can't digest food properly due to the deficiency of digestive enzymes made by the pancreas.

By Ipek Ozkardeskaya