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The joint venture collaboration includes a portfolio of 13 life-changing brands across six therapeutic areas, with revenue primarily from pain management medicines.
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This collaboration is subject to customary approvals and clearances, including legally required antitrust and labor committees.
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Following approval, Grünenthal will own a 51% majority stake in the newly formed joint venture collaboration and expects to acquire the remaining stake in early 2026.
Aachen, Germany & Tokyo, November 24, 2022–(business wire)–Kyowa Kirin Co., Ltd. (TSE: 4151, President and CEO: Masashi Miyamoto, Kyowa Kirin), a global specialty pharmaceutical company based in Japan, and Grünenthal GmbH (CEO: Gabriel Baertschi), a privately held pharmaceutical company based in San Francisco, California.The joint venture collaboration comprises 13 brands across six therapeutic areas primarily focused on pain management, including Abstral® and PecFent® for chronic cancer pain, Moventig® for opioid-induced constipation, and Adcal-D3® for osteoporosis. Joint venture collaborations are subject to customary approvals and clearances, including legally required antitrust and works council approvals. Completion of the transaction is expected in the second quarter of 2023.
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Total portfolio revenue in 2021 was around €200 million. These products are marketed through affiliates in seven major European countries and a partner network in various additional regions around the world. Grünenthal has agreed to pay an upfront payment and royalties of approximately €80 million for the duration of the partnership. Grünenthal will make additional payments when purchasing the remaining shares and portfolio intellectual property (IP).
“With our proven track record of growing an established brand as a leader in pain management, we hope to bring more patients from this unique line of medicines,” said Gabriel Bertsch, CEO of Grünenthal. “This portfolio of established brands aligns very well with Grünenthal’s geographical footprint and therapeutic areas.”
Abdul Malik, President of Kyowa Kirin International, said: We are able to establish close cooperative partnerships that promise benefits for all stakeholders while operating to the highest ethical standards. It brings the new focus, resources and commercial infrastructure needed to grow our portfolio of medicines to more patients. ”
Subject to approval, Grünenthal will hold a 51% majority stake in the new company. Kyowa Kirin owns a 49% stake in him and will initially retain related IP in its portfolio.
Grünenthal plans to purchase the remaining 49% stake and IP in early 2026.
About the portfolio
Our portfolio includes medicines that deliver life-changing value for hundreds of thousands of patients. The portfolio is available in his seven major markets in Europe through affiliates and in various additional territories around the world 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.
About Kyowa Kirin
Kyowa Kirin strives to create and provide life-changing, valuable new drugs. As a Japan-based global specialty pharma with over 70 years of history, we apply cutting-edge science, including antibody research and engineering expertise, to multiple therapeutic areas including nephrology, oncology, and more. Addressing the needs of patients and society across the spectrum of immunology/allergy and neurology. With four regions: Japan, Asia Pacific, North America, and EMEA/International, we focus on our purpose of making people smile, and share the common values of commitment to life, teamwork, innovation, and integrity. united by the values of For more information on Kyowa Kirin’s business, please see below. 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 fully integrated, science-based pharmaceutical company, we have a long track record of delivering innovative therapies and cutting-edge technologies to patients around the world. Our aim is to change lives for the better and innovation is our passion. We focus all our activities and efforts towards our vision of a world without pain.
Headquartered in Aachen, Germany, Grünenthal has affiliates in 28 countries in Europe, Latin America and the Americas. Our products are sold in over 100 countries. In 2021, Grünenthal will employ approximately 4,500 people and achieve sales of €1.5 billion.
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contact address
Kyowa Kirin International
www.international.kyowa-kirin.com
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Stacey Minton
Email: [email protected]
Kyowa Kirin Co., Ltd.:
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Hiroki Nakamura
Email: [email protected]
Grünenthal
www.grunenthal.com
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Florian Diekmann
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Maren Slow
Email: [email protected]
