Grünenthal acquires US-company Valinor Pharma and becomes global owner of Movantik®
- 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, 22 July 2024 – 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.
Keywords
Contacts
Florian Dieckmann, Head Global Corporate Affairs
florian.dieckmann@grunenthal.com
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
Subscribe to releases from Grünenthal Group
Subscribe to all the latest releases from Grünenthal Group by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Grünenthal Group
Grünenthal announces significant investments in its Latin America production sites, further securing reliable medicine supply for patients17.7.2024 11:19:16 EEST | Press release
Investment of more than €80 million to modernise Latin American production sites. In Santiago de Chile, a 3,500-square-metre solids plant has been completely refurbished, creating a world-class manufacturing facility with a production capacity of 1.8 billion tablets annually. In Quito, Ecuador, a new 1,800-square-metre plant will enable the production of 300 million high-quality tablets annually for pain patients in 17 European countries.
Grünenthal and Kyowa Kirin International Announce Successful Completion of Deal to Enter Joint Venture Collaboration2.8.2023 10:36:38 EEST | Press release
The Joint Venture Collaboration includes a portfolio of 13 brands across six therapeutic areas, with the majority of revenue resulting from pain management medicines The new enterprise will be branded as Grünenthal Meds. Grünenthal owns a 51 percent majority share and intends to acquire the remaining share at the beginning of 2026 Aachen, Germany and Tokyo, Japan, 2 August 2023 – Grünenthal GmbH (CEO: Gabriel Baertschi), a global, science-based, privately-owned pharmaceutical company and Kyowa Kirin Co., Ltd., (TSE:4151, President and CEO: Masashi Miyamoto, Kyowa Kirin), a Japan-based global specialty pharmaceutical company, today announced the successful completion of a deal to enter into a Joint Venture Collaboration for Kyowa Kirin International's established medicines portfolio. The portfolio comprises 13 brands across six therapeutic areas primarily focused on pain management, including Abstral® and PecFent® for breakthrough cancer pain, Moventig® for opioid-induced constipation,
Grünenthal’s resiniferatoxin receives Breakthrough Therapy Designation from U.S. FDA for pain associated with osteoarthritis of the knee22.5.2023 11:57:05 EEST | Press release
Knee osteoarthritis is a progressive condition affecting over 360 million people worldwide and may have severe symptoms, including pain. Grünenthal is running a global Phase III programme to investigate the efficacy and safety of intra-articular injections of resiniferatoxin, a non-opioid therapy, in adults with pain associated with knee osteoarthritis. The U.S. Food and Drug Administration’s Breakthrough Therapy Designation process aims to expedite the development of investigational medicines intended to treat severe conditions and where preliminary clinical evidence indicates that the drug may demonstrate substantial improvement over available therapy on clinically significant endpoints. Aachen, Germany, 22 May 2023 – Grünenthal today announced that its investigational non-opioid medicine resiniferatoxin (RTX), currently undergoing clinical Phase III development, received Breakthrough Therapy Designation from the U.S. Food and Drug Administration (FDA) for pain associated with osteoa
Grünenthal and King’s College London collaborate to develop human induced pluripotent stem cell-based microfluidic cultures for pain research27.4.2023 09:00:00 EEST | Press release
Grünenthal and King’s College London collaborate to develop human induced pluripotent stem cell-based microfluidic cultures for pain research
Janneke van der Kamp starts as new Chief Commercial Officer at Grünenthal1.3.2023 12:54:00 EET | Press release
Aachen, Germany, 1st March 2023 – Janneke van der Kamp has today assumed her role as the new Chief Commercial Officer (CCO) of Grünenthal. She joins Grünenthal’s executive board and is responsible for the entire Global Commercial Organisation.