Nestle steps up push into medicine with deal on milk allergy test

London

NESTLE, the world's biggest food company, is stepping up its push into medicine with a global deal worth up to 100 million euros (S$153.7 million) to develop and market an experimental milk allergy test for infants.

The Swiss group will pay DBV Technologies 10 million euros upfront for rights to its skin patch test for cow's milk protein allergy (CMPA), with the balance depending on successful development, the two companies said on Tuesday. Shares in the French biotech company rose 5 per cent on the news.