22.07.2024,
3240 Zeichen
Aachen, Germany (ots) - Grünenthal today announced the acquisition of
US-based Valinor Pharma, LLC (“Valinor”) and its product Movantik®
(naloxegol), with a total deal value of approx. $250 million
inclusive of all royalty obligations. Grünenthal will finance the
transaction using available liquidity.
* Grünenthal acquires the pharmaceutical company Valinor Pharma,
further strengthening Grünenthal’s footprint in the United
States.
* With the acquisition, Grünenthal becomes the global owner of
Movantik® / Moventig® (naloxegol).
* Since 2017, Grünenthal has invested more than €2 billion in
successful M&A transactions, significantly strengthening its
profitability.
Movantik® is indicated for the oral treatment of opioid-induced
constipation (OIC) in adult patients with chronic non-cancer pain.
The transaction further expands Grünenthal’s portfolio of established
medicines and adds to the company’s growing U.S. business. Gross
sales from Movantik® in the United States reached over $200 million
in 2023.
“As a pain specialist, Movantik is a perfect fit for Grünenthal with
our existing customer base and complementary product portfolio”, says
Gabriel Baertschi, CEO, Grünenthal. “The acquisition of Valinor
Pharma strengthens our footprint in the United States, the most
important growth market for Grünenthal.”
Marv Kelly, President of Grünenthal US, commented: “We are excited to
welcome Valinor and expand our portfolio offering to pain specialists
with Movantik.”
Grünenthal acquired the product in Europe (branded Moventig® outside
of the U.S.) in 2023 as part of a joint venture with Kyowa-Kirin. The
acquisition of Valinor makes Grünenthal the worldwide owner of the
brand (ex-Canada).
With Movantik®, Grünenthal continues to execute its strategy of
acquiring established medicines to expand its portfolio and increase
the company's profitability. Since 2017, Grünenthal has acquired
several established medicines, including NebidoTM, the European
rights to CrestorTM and NexiumTM, as well as the global rights to
VimovoTM (excluding the U.S. and Japan), QutenzaTM and ZomigTM
(excluding Japan). In 2023, Grünenthal established Grünenthal Meds, a
joint venture with Kyowa Kirin International, which manages a
portfolio of 13 brands primarily focused on pain management.
Grünenthal has invested more than €2 billion in successful M&A
transactions.
About Grünenthal
Grünenthal is a global leader in pain management and related
diseases. As a science-based, fully integrated pharmaceutical
company, we have a long track record of bringing innovative
treatments and state-of-the-art technologies to patients worldwide.
Our purpose is to change lives for the better, and innovation is our
passion. We are focusing all our activities and efforts on working
towards our vision of a world free of pain.
Grünenthal is headquartered in Aachen, Germany, and has affiliates in
27 countries across Europe, Latin America, and the U.S. Our products
are available in approx. 100 countries. In 2023, Grünenthal employed
around 4,400 people and achieved revenues of €1.8 billion.
More information: www.grunenthal.com and Grünenthal Report 2023/24
Follow us on:
LinkedIn: Grunenthal Group
Instagram: grunenthal
Digital press kit:
http://www.ots.at/pressemappe/DE118252/aom
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