AACHEN, Germany, Feb. 10, 2021
AACHEN, Germany, Feb. 10, 2021 /PRNewswire/ -- Grünenthal today announced the successful completion of its acquisition of the European rights to CRESTOR™ (excluding Spain and the UK) for a total consideration of up to US$ 350 million. "Cardiovascular diseases are among the most burdensome diseases in Europe1," said Gabriel Baertschi, CEO Grünenthal. "With CRESTOR™, we are proud to provide a meaningful therapy option to those patients. The completion of this acquisition is an important milestone for Grünenthal."
Under the terms of this agreement, Grünenthal has acquired the exclusive rights to market CRESTOR™ and its second brands in more than 30 European markets. Grünenthal will also take over bulk production and packaging for the defined markets by 2025. CRESTOR™ continues to generate significant revenues, total CRESTOR™ 2019 sales in the countries where rights were acquired were US$ 136 million (€ 122 million). The deal is part of Grünenthal's strategy aiming at partnerships and acquisitions that have the potential to further strengthen the company's performance and enable investment into research and development in pain.
The acquisition of CRESTOR™ is the latest of a series of acquisitions and partnerships Grünenthal has entered into in the last few years, including European rights to Nexium™, the global (ex US and Japan) rights to Vimovo™, global rights to Qutenza™ and global (ex Japan) rights to Zomig™. The company has signed deals with a total value of more than US$ 1.7 billion since 2016. Recently, the company announced the FDA label-extension of Qutenza™ for the treatment of neuropathic pain associated with diabetic peripheral neuropathy of the feet on the US market. Grünenthal aims to further strengthen its research and innovation capabilities in pain and to explore commercial growth opportunities in its core markets, specifically Europe, the US and Latin America.
CRESTOR™ (rosuvastatin) is a statin, a lipid-lowering medicine, used to treat blood lipid disorders and to prevent cardiovascular events, such as heart attacks and strokes. CRESTOR™ produces its lipid-modifying effects in two ways: it blocks an enzyme in the liver causing the liver to make less cholesterol, and it increases the uptake and breakdown by the liver of cholesterol already in the blood. CRESTOR™ is approved as a lipid-regulating medicine in more than 100 countries.
Grünenthal is a global leader in pain management and related diseases. As a science-based, privately-owned 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 of 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 29 countries across Europe, Latin America and the US. Our products are available in more than 100 countries. In 2019, Grünenthal employed around 4,700 people and achieved sales of € 1.4 bn.
More information: www.grunenthal.com
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1 Townsend N, Wilson L, Bhatnagar P et al. Cardiovascular disease in Europe: epidemiological update 2016. European Heart Journal. 2016;37: 3232-3245.
For further information, please contact:
Fabia Kehren, Head External Communications & Editorial Management
Tel.: +49 241 569-3269
Grünenthal GmbH, 52099 Aachen, Germany