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 million in 2023.
“As a pain specialist, Movantik is a perfect fit for Grünenthal with our existing customer base and complementary product portfolio”, says Gabriel Baertschi, CEO, Grünenthal. “The acquisition of Valinor Pharma strengthens our footprint in the United States, the most important growth market for Grünenthal.”
Marv Kelly, President of Grünenthal US, commented: “We are excited to welcome Valinor and expand our portfolio offering to pain specialists with Movantik.”
Grünenthal acquired the product in Europe (branded Moventig® outside of the U.S.) in 2023 as part of a joint venture with Kyowa-Kirin. The acquisition of Valinor makes Grünenthal the worldwide owner of the brand (ex-Canada).
With Movantik®, Grünenthal continues to execute its strategy of acquiring established medicines to expand its portfolio and increase the company’s profitability. Since 2017, Grünenthal has acquired several established medicines, including NebidoTM, the European rights to CrestorTM and NexiumTM, as well as the global rights to VimovoTM (excluding the U.S. and Japan), QutenzaTM and ZomigTM (excluding Japan). In 2023, Grünenthal established Grünenthal Meds, a joint venture with Kyowa Kirin International, which manages a portfolio of 13 brands primarily focused on pain management. Grünenthal has invested more than €2 billion in successful M&A transactions.