Grünenthal closes deal with AstraZeneca for Nexium and Vimovo

Aachen, Germany (ots) - Grünenthal today announced the successful
completion of its acquisition of European rights to Nexium and global
(ex US and Japan) rights to Vimovo from AstraZeneca for a total
consideration of up to US$ 922 m (EUR 811 m). "Today is an important
day for Grünenthal," said Gabriel Baertschi, CEO Grünenthal. "This
transaction represents a significant step towards our vision of
creating a world free of pain for patients. It is also is the biggest
single investment in the history of our company. This transaction
will double our EBITDA performance and significantly strengthen our
leading position in pain management".

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 induced by
non-steroidal anti-inflammatory drugs (NSAIDs). It has a number of
indications, including the prevention and treatment of gastric ulcers
induced by pain-relieving NSAIDs. Vimovo is a fixed-dose combination
tablet of naproxen, a pain-relieving 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.

With the acquisition the company aims to address a high unmet
medical need[1] of 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, complementing Grünenthal's extensive pain expertise with
these well-established products is a perfect strategic fit," Gabriel
Baertschi explained.

Under the terms of the agreement, Grünenthal has acquired the
exclusive rights to market Nexium for the approved indications in 33
European countries. Grünenthal has also obtained global
commercialization rights for Vimovo with the exception of the US and
Japan. With this acquisition Grünenthal is expected to double its
EBITDA performance and significantly enhance its business across
multiple pain related therapeutic categories and geographies.

Grünenthal continues executing its growth strategy and has been
expanding its pain portfolio by a series of acquisitions including
European rights to Nexium, global (ex US and Japan) rights to Vimovo,
global rights to Qutenza and global (ex Japan) rights to Zomig. The
company has signed deals with a total value of more than US$ 1.3
billion since 2016.

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

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.

For further information, please contact:
Stepan Kracala, 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 Gruppe, übermittelt durch news aktuell