Nestlé has finally divested the peanut allergy business acquired in 2019 to much fanfare after the treatment spectacularly failed to live up to its blockbuster potential.

Heralded as a potential blockbuster, Nestlé's acquisition of Palforzia has proved to be a very expensive mistake.

Public Company Edition: The stock market has been unkind to biotech firms but investors rewarded some drug developers for clinical trial successes, including Scholar Rock and Day One, which raised $205m and $172.5m, respectively. However, some SPAC deals and an IPO never got off the ground.

Several new drugs are now on track for an EU marketing authorization after getting the EMA’s thumbs up this week.