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  • Nestle 9-Mos Sales CHF68.83B

    Nestle 9-Mos Sales CHF68.83B

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    By Giulia Petroni

    Nestle reported a 7.8% organic sales growth in the first nine months of the year driven by price increases amid high inflation levels, and backed its full-year outlook.
    

    The Swiss food and beverage giant said sales stood at 68.83 billion Swiss francs ($76.57 billion) in the period from CHF69.13 billion a year earlier, driven by pricing at 8.4%. Real internal growth was minus 0.6%, but the company said the recovery of volume and mix is underway.
    

    

    A company-compiled consensus estimate had forecast organic sales growth of 8.1%.
    

    Write to Giulia Petroni at giulia.petroni@wsj.com
    

    

    

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    Nestle Sells Peanut-Allergy Treatment Business to Stallergenes Greer
    
			
    Nestle Sells Peanut-Allergy Treatment Business to Stallergenes Greer
    
			
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    By Adria Calatayud
    

    Nestle said it has sold its Palforzia peanut-allergy treatment business to biopharmaceutical company Stallergenes Greer.
    

    The Swiss consumer-goods company said Monday that it will receive milestone payments and royalties from Stallergenes Greer. The deal was closed upon signing, Nestle said.
    

    

    The sale allows Nestle’s health-science operations to focus on its core strengths and key growth drivers, the unit’s Chief Executive Greg Behar said.
    

    Nestle last year said that it would conduct a strategic review of Palforzia after a slower-than-expected adoption by patients and healthcare professionals.
    

    Write to Adria Calatayud at adria.calatayud@dowjones.com
    

    

    

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    Nestle Names New CFO
    
			
    Nestle Names New CFO
    
			
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    By Mauro Orru
    

    Nestle appointed Anna Manz from the London Stock Exchange Group to succeed Francois-Xavier Roger as chief financial officer after he decided to step down in pursuit of new professional challenges.
    

    The Swiss packaged-foods giant said Tuesday that Manz would take over as soon as she is released from her present duties as chief financial officer and board member at the London Stock Exchange Group. Roger will remain in place until then, Nestle said.
    

    

    “Anna has spent her career growing businesses and improving operational efficiencies,” said Chief Executive Mark Schneider. “Her deep knowledge of the consumer goods industry, combined with her extensive experience across many corporate functions, make her uniquely positioned to help lead Nestle into its next phase of value creation.”
    

    Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
    

    

    

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