Grünenthal and Kyowa Kirin International Announce Successful Completion of Deal to Enter Joint Venture Collaboration
- 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, and Adcal-D3® for osteoporosis. All products will continue to be marketed through affiliates in seven major European countries and through a network of partners in various additional territories worldwide.
"Grünenthal is a global leader in pain management. With the addition of this strong portfolio, we will be able to help more patients who suffer from various forms of pain," said Gabriel Baertschi, Chief Executive Officer, Grünenthal.
"The established medicines portfolio has a proud history of delivering life-changing value for patients. Today's announcement now means even more patients, for many years to come, will continue to benefit from the portfolio. We are enormously grateful and proud of our colleagues who have worked tirelessly to make this Joint Venture Collaboration a reality," said Jeremy Morgan, President, Kyowa Kirin International.
Grünenthal owns a 51 percent majority share in the Joint Venture Collaboration, while Kyowa Kirin owns a 49 percent share. Grünenthal intends to fully acquire the remaining 49 percent share via exercising an option at the beginning of 2026.
About Grünenthal Meds
As part of the Joint Venture Collaboration between Grünenthal GmbH and Kyowa Kirin Co., Ltd., a new enterprise has been created to market Kyowa Kirin International's established medicines portfolio, which comprises 13 brands across six therapeutic areas. This enterprise will be branded in all markets as Grünenthal Meds.
The portfolio includes medicines that deliver life-changing value for hundreds of thousands of patients. The portfolio is available in seven major European markets through affiliates and in various additional territories worldwide through a network of partners. Key products in the portfolio include Abstral® and PecFent® (Fentanyl) for breakthrough cancer pain, Moventig® (Naloxegol) for opioid-induced constipation and Adcal-D3® (calcium and vitamin D3) for osteoporosis. Visit www.grunenthalmeds.com to find out more.
About Kyowa Kirin
Kyowa Kirin strives to create and deliver novel medicines with life-changing value. As a Japan-based global specialty pharmaceutical company with a more than 70-year heritage, we apply cutting-edge science, including an expertise in antibody research and engineering, to address the needs of patients and society across multiple therapeutic areas including Nephrology, Oncology, Immunology/Allergy and Neurology. Across our four regions – Japan, Asia Pacific, North America and EMEA/International – we focus on our purpose, to make people smile, and are united by our shared values of commitment to life, teamwork, innovation, and integrity. You can learn more about the business of Kyowa Kirin at: https://www.kyowakirin.com/.
Kyowa Kirin International is a subsidiary of Kyowa Kirin Co., Ltd.
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 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 28 countries across Europe, Latin America and the US. Our products are available in more than 100 countries. In 2022, Grünenthal employed around 4,400 people and achieved sales of € 1.7 bn.
More information: www.grunenthal.com and Grünenthal Report 2022/23 digital edition (grunenthal.com)
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Kyowa Kirin International www.international.kyowa-kirin.com Galabank Business Park Galashiels, TD1 1QH United Kingdom Contacts for Kyowa Kirin International: Media Stacey Minton Email: Stacey.Minton@kyowakirin.com
Contacts for Kyowa Kirin Co., Ltd.: Media Hiroki Nakamura Email: media@kyowakirin.com |
Grünenthal GmbH Zieglerstr. 6 52078 Aachen Germany Media Contact: Florian Dieckmann |
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