German pharmaceutical company Grünenthal has announced the acquisition of US-based Valinor Pharma along with its product Movantik (naloxegol), in a deal valued at approximately $250m.
The consideration, which is inclusive of all royalty obligations, will be financed using Grünenthal’s existing liquidity.
Movantik is approved in the US as an oral treatment of opioid-induced constipation (OIC) in adults with chronic non-cancer pain.
The acquisition expands Grünenthal’s portfolio of established medicines and strengthens its presence in the US market.
Movantik’s gross sales exceeded $200m in the US in 2023.
Last year, Grünenthal acquired the product in Europe under the brand name Moventig, as part of a joint venture with Kyowa-Kirin.
With the acquisition of Valinor Pharma, Grünenthal now becomes the global owner of the brand, excluding Canada.
Grünenthal CEO Gabriel Baertschi said: “As a pain specialist, Movantik is a perfect fit for Grünenthal with our existing customer base and complementary product portfolio.
“The acquisition of Valinor Pharma strengthens our footprint in the United States, the most important growth market for Grünenthal.”
Valinor Pharma was owner of Movantik since early 2023. During its ownership, the firm utilised Apollo Care’s commercial platform to increase the drug’s market presence in the US.
Valinor Pharma CEO Todd Smith said: “Today’s announcement recognises the significant value we have built for our patients and shareholders.
“This acquisition comes at a great time as Valinor has implemented an innovative commercial platform of sales and patient access tools that will provide Grünenthal with a strong foundation for future growth.”
The acquisition of Valinor Pharma is said to align with Grünenthal’s strategy of adding established medicines to expand its portfolio and bolster profitability.
Since 2017, the German firm has pursued various acquisitions, including Nebido, the European rights to Crestor and Nexium, as well as global rights to Vimovo, Qutenza, and Zomig.
Last year, Grünenthal furthered its strategy by forming Grünenthal Meds, a joint venture with Kyowa Kirin International, which oversees a portfolio of 13 brands primarily focused on pain management.
The German company has invested over €2bn through mergers and acquisitions to continue its growth.
