- 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.
AACHEN, Germany, July 22,
2024 /PRNewswire/ -- 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.
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
For further information, please contact:
Florian Dieckmann, Head Global Corporate
Affairs
florian.dieckmann@grunenthal.com
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SOURCE Grünenthal Group