Gerhard Burits takes on new role at the ELATEC Group / RFID specialist ELATEC: New management duo with many years of experience23.7.2024 09:00:00 CEST | news aktuell GmbH

Munich, July 23, 2024 – Gerhard Burits expands his responsibilities and assumes the role of CEO of the ELATEC Group. Thanks to his in-depth knowledge of the company structure and his strategic foresight, he is ideally qualified to reinforce ELATEC’s position as an innovation leader in global competition. The management board will have joint leaders at the helm: Also on board is Paul Massey, who, as CEO of ELATEC Inc., is now also taking on the role of COO of the ELATEC Group and contributing his international expertise to a greater extent. Gerhard Burits, who joined the company in June 2020 as Chief Financial Officer (CFO), has been appointed Chief Executive Officer (CEO) of ELATEC GmbH. Over the past four years, he has made a significant contribution as CFO to financial stability and international growth, positioning ELATEC excellently with his strategic expertise. As CEO, he is now determined to reinforce the ELATEC Group’s technological lead, strengthen its presence on the global ma

Grünenthal acquires US-company Valinor Pharma and becomes global owner of Movantik®22.7.2024 10:05:22 CEST | news aktuell GmbH

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 m
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