Nestle SA sold its peanut-allergy medicine business to Swiss health-care group Stallergenes Greer after the food company gave up hopes that it’d become a blockbuster treatment.

The price was undisclosed. Nestle said Monday it will receive milestone payments and royalties from Stallergenes. In July, Bloomberg News reported that Stallergenes had been in talks about a possible deal for Palforzia, the first peanut-allergy treatment to get approval from the US Food and Drug Administration.

Nestle acquired the maker of Palforzia in 2020 for $2.6 billion as Chief Executive Officer Mark Schneider made one of his biggest forays into health. However, uptake of the new drug missed expectations and the company launched a strategic review of the therapy in November. Earlier this year, Nestle announced a 1.9 billion-franc impairment charge on the peanut medication, writing down the bulk of its value.

Peanut allergy is a widespread condition, the successful treatment of which has eluded Big Pharma for years. Palforzia is essentially peanut protein encapsulated in a pill. By exposing children to tiny but gradually increasing amounts of the ingredient, it slowly raises their sensitivity threshold.

Stallergenes specializes in allergen immunotherapies. The company has manufacturing sites in France and the US and has a presence in 19 countries, according to its website.

Read more: Nestlé’s $6,000 Peanut Allergy Pill Has Been a Dud

Nestle shares have dropped 7% in the past year. The company originally planned to complete its strategic review for the unit in the first half of 2023.

(Updates with details on treatment in second paragraph)