Aachen, Germany, 1 December 2020 / News Aktuell Grünenthal, a global science-based, privately-owned pharmaceutical company, today announced that it has agreed to acquire the European rights (excluding Spain and the UK) to CRESTOR (rosuvastatin) and its associated brands for a total consideration of up to US$ 350 million. CRESTOR is among the leading statin products in Europe and is indicated for the treatment of dyslipidaemia, hypercholesterolaemia and the prevention of cardiovascular events. Compared to other statins such as atorvastatin, CRESTOR has demonstrated superior LDL- cholesterol- lowering efficacy.[1] The level of LDL is an important factor for the improvement of cardiovascular outcomes and therefore especially important in patients with high risk of cardiovascular diseases such as diabetes or stroke.
Cardiovascular diseases are among the most burdensome diseases in Europe[2] and we are excited to include such a well-established product in our portfolio, said Gabriel Baertschi, Grünenthal CEO. The acquisition of European rights to CRESTOR is yet another proof of our strategy aiming at strengthening Grünenthals financial performance and bringing strong brands to patients across our markets.
Under the terms of this agreement, Grünenthal will acquire 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 despite having lost exclusivity. Total CRESTOR 2019 sales in the countries where rights were acquired were US$ 136 million ( 122 million).
This acquisition is expected to generate a significant profit contribution in the upcoming years, supporting Grünenthals strategy aiming at concluding profit accretive deals that strengthen the companys financial performance. The acquisition is subject to approval from the relevant antitrust authorities, with closing expected in the first quarter of 2021.
The acquisition of CRESTOR is part 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 approval of Qutenza for the treatment of neuropathic pain associated with diabetic peripheral neuropathy of the feet. 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.
About CRESTOR
Crestor (rosuvastatin) is a statin, a lipid-lowering agent, 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.
About Grünenthal
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 focussing 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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For further information, please contact:
Fabia Kehren, Head External Communications & Editorial Management
Tel.: +49 241 569-3269
Fabia.Kehren@grunenthal.com
Grünenthal GmbH, 52099 Aachen, Germany