The Joint Venture Collaboration includes a portfolio of 13 life-changing brands crossed six therapeutic areas, with revenues chiefly resulting from symptom absorption medicines
The collaboration is taxable to obtaining customary approvals and clearances, including anti-trust and works councils arsenic legally required
Upon approval, Grünenthal volition ain a 51 percent bulk stock successful the recently formed Joint Venture Collaboration and intends to get the remaining shares astatine the opening of 2026
AACHEN, Germany & TOKYO, November 24, 2022--(BUSINESS WIRE)--Kyowa Kirin Co., Ltd., (TSE:4151, President and CEO: Masashi Miyamoto, Kyowa Kirin), a Japan-based planetary specialty pharmaceutical company, and Grünenthal GmbH (CEO: Gabriel Baertschi), a global, science-based, privately-owned pharmaceutical company, are contiguous announcing they person signed a Joint Venture Collaboration for Kyowa Kirin International's established medicines portfolio. The Joint Venture Collaboration comprises 13 brands crossed 6 therapeutic areas chiefly focused connected symptom management, including Abstral® and PecFent® for breakthrough crab pain, Moventig® for opioid-induced constipation, and Adcal-D3® for osteoporosis. The Joint Venture Collaboration is taxable to obtaining customary approvals and clearances, including anti-trust and works councils arsenic legally required. Completion of the woody is anticipated for Q2 2023.
This property merchandise features multimedia. View the afloat merchandise here: https://www.businesswire.com/news/home/20221124005096/en/
The full revenues of the portfolio successful 2021 were astir €200 million. The products are marketed done affiliates successful 7 large European countries and done a web of partners successful assorted further territories worldwide. Grünenthal has agreed to wage astir €80 cardinal upfront positive royalties implicit the word of the collaboration. Grünenthal volition marque an further outgo upon acquisition of the remaining stock and the intelligence spot (IP) of the portfolio.
"As a person successful symptom management, and with our proven way grounds successful increasing established brands, we judge we tin assistance adjacent much patients payment from this unsocial radical of medicines", said Gabriel Baertschi, Chief Executive Officer, Grünenthal. "This portfolio of established brands matches precise good with Grünenthal’s geographical footprint and therapeutic areas."
Abdul Mullick, President of Kyowa Kirin International said, "Our hunt for a spouse included 3 cardinal priorities: a squad who shares our committedness to patients and to our employees, a spouse who is looking to enactment our maturation agenda, and a institution with which we tin found a close, collaborative concern that promises benefits for each our stakeholders portion operating astatine the highest ethical standards. This collaboration volition bring a renewed focus, the resources and the commercialized infrastructure required to turn the established medicines portfolio to present life-changing worth to much patients."
Subject to approval, Grünenthal volition ain a 51 percent bulk stock successful the caller company. Kyowa Kirin volition ain a 49 percent stock and volition initially clasp the IP related to the portfolio.
Grünenthal intends to acquisition the remaining 49 percent stock and the IP astatine the opening of 2026.
About the portfolio
The portfolio includes medicines that present life-changing worth for hundreds of thousands of patients. The portfolio is disposable successful 7 large European markets done affiliates and successful assorted further territories worldwide done a web of partners. Key products successful the portfolio see Abstral® and PecFent® (Fentanyl) for breakthrough crab pain, Moventig® (Naloxegol) for opioid-induced constipation and Adcal-D3® (calcium and vitamin D3) for osteoporosis.
About Kyowa Kirin
Kyowa Kirin strives to make and present caller medicines with life-changing value. As a Japan-based planetary specialty pharmaceutical institution with a much than 70-year heritage, we use cutting-edge science, including an expertise successful antibody probe and engineering, to code the needs of patients and nine crossed aggregate therapeutic areas including Nephrology, Oncology, Immunology/Allergy and Neurology. Across our 4 regions – Japan, Asia Pacific, North America and EMEA/International – we absorption connected our purpose, to marque radical smile, and are agreed by our shared values of committedness to life, teamwork, innovation, and integrity. You tin larn much astir the concern of Kyowa Kirin at: https://www.kyowakirin.com/.
Kyowa Kirin International is simply a subsidiary of Kyowa Kirin Co., Ltd.
About Grünenthal
Grünenthal is simply a planetary person successful symptom absorption and related diseases. As a science-based, fully-integrated pharmaceutical company, we person a agelong way grounds of bringing innovative treatments and state-of-the-art technologies to patients worldwide. Our intent is to alteration lives for the amended – and innovation is our passion. We are focusing each of our activities and efforts connected moving towards our imaginativeness of a satellite escaped of pain.
Grünenthal is headquartered successful Aachen, Germany, and has affiliates successful 28 countries crossed Europe, Latin America and the US. Our products are disposable successful much than 100 countries. In 2021, Grünenthal employed astir 4,500 radical and achieved income of € 1.5 bn.
View root mentation connected businesswire.com: https://www.businesswire.com/news/home/20221124005096/en/
Contacts
English (US)