Grünenthal Obtains Valinor Pharma
In a transaction valued at $250 million, the deal makes Grünenthal the new owner of Movantik, which treats OIC in adult patients with chronic non-cancer pain.
Image Credit: Adobe Stock Images/Eddows.com
Grünenthal has purchased Valinor Pharma, LLC—including its product Movantik (naloxegol)—for a value of $250 million.1 The company is expected to finance the transaction using available liquidity.
Movantik is currently indicated for the oral treatment of opioid-induced constipation (OIC) in adult patients who have chronic non-cancer pain. The deal grows Grünenthal's medicine portfolio. Last year alone, in the United States, gross sales from Movantikwere north of $200 million.
"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."
As part of a joint venture with Kyowa-Kirin, Grünenthal purchased the product in Europe (branded as Moventigoutside of the United States) last year .The acquisition of Valinor makes Grünenthal the worldwide owner of the brand (ex-Canada).
Since 2017, Grünenthal has acquired several established medicines, including Nebido, the European rights to Nexium and Crestor, along with the global rights to Vimovo (excluding the United States and Japan), Zomig (excluding Japan) and Qutenza.
Beyond these areas, the company has also made investments in its Latin American production sites that are expected to boost its production efforts in Chile and Ecuador.2 One of the financial commitments included $87 million toward the execution of a standardized approach to what the company is describing as “product robustness, quality, and regulatory compliance” across its global manufacturing sites.
"Our investment in Latin America is a strong demonstration of our commitment to long-term competitiveness in the region," commented Victor Barbosa, Grünenthal’s head of global operations and member of the executive board team. "Future-proofing our manufacturing capabilities underscores our commitment to ensuring a safe, reliable, and efficient supply of medicine to patients globally. Grünenthal delivers high-quality medicine from Latin America to the world—a unique capability in the region."
References
1. Grünenthal acquires US-company Valinor Pharma and becomes global owner of Movantik. PR Newswire. July 22, 2024. Accessed July 23, 2024. https://www.prnewswire.com/news-releases/grunenthal-acquires-us-company-valinor-pharma-and-becomes-global-owner-of-movantik-302202574.html
2. Grünenthal announces significant investments in its Latin America production sites, further securing reliable medicine supply for patients. Agilent. July 17, 2024. Accessed July 23, 2024. https://www.prnewswire.com/news-releases/grunenthal-announces-significant-investments-in-its-latin-america-production-sites-further-securing-reliable-medicine-supply-for-patients-302199218.html
