Grünenthal and Kyowa Kirin International Announce Successful Completion of Deal to Enter Joint Venture Collaboration

On August 2, 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, reported the successful completion of a deal to enter into a Joint Venture Collaboration for Kyowa Kirin International’s established medicines portfolio (Press release, Gruenenthal, AUG 2, 2023, View Source [SID1234633676]).

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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.