Grünenthal agrees US$ 922 m deal with AstraZeneca for Nexium and Vimovo

Aachen (ots) -

- Biggest single investment in Grünenthal's history that will
significantly strengthen the company's leading position in pain
management
- Gastroprotective therapies to address a high unmet medical need
[1] in pain patients on non-steroidal anti-inflammatory drugs
(NSAIDs)

Grünenthal today announced that it has agreed to acquire
AstraZeneca's European rights to Nexium and the global (ex US and
Japan) rights to Vimovo for a total consideration of up to US$ 922 m
(EUR 811 m). Nexium (esomeprazole) is a proton pump inhibitor (PPI)
that helps to reduce the amount of acid produced by the stomach in
patients with gastroesophageal reflux conditions and ulcers. It has a
number of indications, including the prevention and treatment of
gastric ulcers induced by pain-relieving non-steroidal
anti-inflammatory drugs (NSAIDs). Vimovo is a fixed-dose combination
tablet of naproxen, a pain-relieving non-steroidal anti-inflammatory
drug (NSAID) and esomeprazole, the same gastroprotective active
ingredient as in Nexium. It is indicated for the symptomatic
treatment of osteoarthritis, rheumatoid arthritis and ankylosing
spondylitis in patients at risk of developing NSAID-associated
gastric and/or duodenal ulcers.

"This acquisition is the biggest single investment in Grünenthal's
history and an important step in pursuing our vision of creating a
world free of pain for patients," explained Grünenthal CEO Gabriel
Baertschi. "There is a high unmet medical need[1] for patients on
long-term high-dose NSAIDs. Despite all guidelines recommending
gastrointestinal protection for these patients, evidence suggests
that many remain unprotected and 1 out of 4 may develop stomach ulcer
with its serious health complications[2]. Therefore, combining
Grünenthal's extensive pain expertise with the well-established
products Nexium and Vimovo is a perfect strategic fit." Grünenthal is
a worldwide leader in innovative pain management and related
therapies.

Under the terms of the agreement, Grünenthal will acquire the
exclusive rights to market Nexium for the approved indications in 33
European countries. Nexium continues to generate significant revenues
despite having lost exclusivity. Total prescription Nexium 2017 sales
for in-scope markets were US$ 248 m (EUR 220 m). Grünenthal will
obtain Vimovo global commercialization rights with the exception of
the US and Japan. Vimovo is available in over 30 countries and is
patent protected in most European markets until 2025. Vimovo achieved
revenues of US$ 79 m (EUR 70 m) in in-scope markets in 2017.

With this acquisition Grünenthal is expected to double its EBITDA
performance. Moreover, Grünenthal will significantly enhance its
business across multiple pain related therapeutic categories and
geographies. The transaction is subject to approval from the relevant
antitrust authorities, with closing expected in December 2018.

The financing for Grünenthal has been secured by the underwriting
banks BBVA, BNP Paribas, Commerzbank and ING.

About Nexium

Nexium (esomeprazole) is used to treat gastroesophageal reflux
disease, ulcers, and Zollinger-Ellison syndrome. It is also used for
the prevention and treatment of gastric ulcers induced by
pain-relieving non-steroidal anti-inflammatory drugs (NSAIDs). It is
a member of the drug class of proton pump inhibitors (PPIs), which
reduce the production of stomach acid. It works by binding to and
inhibiting the acid pumps of a particular type of cells lining the
stomach wall to reduce the production of stomach acid. In doing so,
it lowers the level of acidity in the stomach and helps to heal
erosions in the esophagus or ulcers in the stomach and duodenum.
Nexium is available in several formulations: Nexium gastro-resistant
granules for oral suspension, Nexium gastro-resistant Multi-Unit
Pellet System (Nexium MUPS(TM)) tablets, and Nexium
injection/infusion with varying approved indications. Please consult
your local label for specific approved uses in adults and children.

About Vimovo

Vimovo (naproxen/esomeprazole) modified-release tablet is a
fixed-dose combination of naproxen, a pain-relieving non-steroidal
anti-inflammatory drug (NSAID) and esomeprazole, the same
gastroprotective active ingredient as in Nexium. It is indicated for
the symptomatic treatment of osteoarthritis, rheumatoid arthritis and
ankylosing spondylitis in patients who are at risk of developing
NSAID-associated gastric ulcers and/or duodenal ulcers and where
treatment with lower doses of naproxen or of other NSAIDs is not
considered sufficient. The fixed dose combination reduces the
incidence of gastric ulcers by up to 70% compared to Naproxen
alone[3] and therefore provides patients the benefit of both
effective pain relief and adequate gastroprotection. Please consult
your local label for specific approved uses.

About Grünenthal

Grünenthal is an entrepreneurial, science-based pharmaceutical
company specialized in pain, gout and inflammation. Our ambition is
to deliver four to five new products to patients in diseases with
high unmet medical need by 2022 and become a EUR 2 bn company. We are
a fully integrated research & development company with a long track
record of bringing innovative pain treatments and state-of-the-art
technologies to patients. By sustainably investing in our R&D above
the industrial average, we are strongly committed to innovation.

Grünenthal is an independent, family-owned company headquartered
in Aachen, Germany. We are present in approx. 30 countries with
affiliates in Europe, Latin America and the US. Our products are sold
in more than 100 countries and approx. 5,200 employees are working
for Grünenthal worldwide. In 2017, Grünenthal achieved revenues of
approx. EUR 1.3 bn.

More information: www.grunenthal.com

Follow us on:
LinkedIn: Grunenthal Group
Twitter: @grunenthalgroup
Instagram: gruenenthal

# # #

1. Scheiman, J.M., Unmet needs in non-steroidal anti-inflammatory
drug-induced upper gastrointestinal diseases. Drugs, 2006. 66 Suppl
1: p. 15-21; discussion 29-33.

2. Lanza, F.L., F.K. Chan, and E.M. Quigley, Guidelines for
prevention of NSAID-related ulcer complications. Am J Gastroenterol,
2009. 104(3): p. 728-38.

3. Angiolillo, D.J., et al., Impact of concomitant low-dose
aspirin on the safety and tolerability of naproxen and esomeprazole
magnesium delayed-release tablets in patients requiring chronic
nonsteroidal anti-inflammatory drug therapy: an analysis from 5 Phase
III studies. J Thromb Thrombolysis, 2014. 38(1): p. 11-23.

For further information, please contact:
?t?pán Krá?ala, Head Global Communications
Tel.: +49 241 569-1335, Stepan.Kracala@grunenthal.com
Grünenthal GmbH, 52099 Aachen, Germany

Kerstin Nacken, Head Editorial Management and Media Relations
Tel.: +49 241 569-2710, Kerstin.Nacken@grunenthal.com
Grünenthal GmbH, 52099 Aachen, Germany

Original-Content von: Grünenthal Group, übermittelt durch news aktuell