Grünenthal successfully extends its term loan bank facilities
Aachen, Germany, 12 February2021–Grünenthal has announced the successful extension of its existing €535 million term loan bank facilities. This amendment was conducted in the broader context of the company’s acquisition of the European rights (excluding Spain and the UK) to the lipid-lowering medication CRESTOR™ completed in February 2021. The term loan maturities are now aligned with Grünenthal’s Revolving Credit Facility maturity, which further extends its debt maturity profile. More than 60 percent of Grünenthal’s debt facilities now mature in 2024 or later.
“By extending the maturity of our financing, we have gained additional flexibility to further fund our growth strategy,” says Fabian Raschke, Chief Financial Officer of Grünenthal. „We will continue to explore opportunities to further support our organic growth with targeted acquisitions, that fit our EBITDA and cash flows accretive acquisition strategy.“
Grünenthal’s capital structure has enabled it to enter into a series of acquisitions and partnerships in recent years. The company has signed transactions with a total value of more than US$ 1.7 billion since 2016. These include the global rights to Qutenza™ and the global (excluding Japan) rights to Zomig™, as well as the European rights to Nexium™ and global (excluding US and Japan) rights to Vimovo™, which is the biggest single investment in the company’s history.
“These transactions are vital building blocks to support Grünenthal’s strategy of generating deals that strengthen our financial performance and enable us to reinvest in pain research,” explains Fabian Raschke.
Fabia Kehren, Head External Communications & Editorial Management
Tel.: +49 241 569-3269
Grünenthal GmbH, 52099 Aachen, Germany
Information om Grünenthal Group
Grünenthal is a global leader in pain management and related diseases. As a science-based, privately-owned pharmaceutical company, we have a long track record of bringing innovative treatments and state-of-the-art technologies to patients worldwide. Our purpose is to change lives for the better – and innovation is our passion. We are focusing all of our activities and efforts on working towards our vision of a world free of pain.
Grünenthal is headquartered in Aachen, Germany, and has affiliates in 29 countries across Europe, Latin America and the US. Our products are available in more than 100 countries. In 2019, Grünenthal employed around 4,700 people and achieved sales of € 1.4 bn.
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First patient enrolled into a Phase III study with QUTENZA® in post-surgical neuropathic pain10.8.2021 09:00:00 CEST | Pressemeddelelse
The study AV001 aims to include the treatment of post-surgical neuropathic pain (PSNP) in the U.S. label. QUTENZA® is currently approved for the treatment of neuropathic pain associated with postherpetic neuralgia and for the treatment of neuropathic pain associated with diabetic peripheral neuropathy (DPN) of the feet in adults. Post-surgical neuropathic pain is a debilitating complication of surgery that affects approximately 13% of all patients who undergo surgery, representing 3.3 million patients per year in the US. Aachen, Germany, & Morristown, N.J., 10 August 2021 –Grünenthal announced today that its U.S. subsidiary, Averitas Pharma Inc., enrolled the first patient in the randomised, double-blind trial AV001. The Phase III study investigates the efficacy, safety, and tolerability of QUTENZA (capsaicin) 8% topical system in post-surgical neuropathic pain (PSNP) to support an extension of the U.S. label. The trial will include over 400 patients who suffer from moderate to seve
Grünenthal’s Glucocorticoid Receptor Modulator enters clinical development27.7.2021 10:59:55 CEST | Press release
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Grünenthal acquires Mestex AG and its Phase-III-ready investigational medicine MTX-071 for the treatment of pain associated with osteoarthritis of the knee12.4.2021 11:14:51 CEST | Pressemeddelelse
With the acquisition of Mestex AG, Grünenthal secures global rights for an attractive late-stage asset that could offer an innovative therapy option for millions of patients affected by pain related to osteoarthritis of the knee. MTX-071 (resiniferatoxin) is a highly potent Transient Receptor Potential Vanilloid 1 (TRPV1) agonist. Its administration can reversibly defunctionalise TRPV1-expressing nociceptors. This can result in long lasting pain relief. Aachen, Germany, 12 April 2021 –Today, Grünenthal has announced the acquisition of Mestex AG through the takeover of all of its shares and options. Mestex AG is a Swiss biotech company that has developed the innovative investigational medicine MTX-071 (resiniferatoxin) for the intra-articular treatment of pain associated with osteoarthritis of the knee. The investigational medicine is currently concluding Phase II of clinical development and is about to enter Phase III. Initial data showed a long-lasting and significant analgesic effect
Grünenthal is Recognized for its Strong Management of Environmental, Social and Governance (ESG) Risks7.4.2021 13:31:48 CEST | Pressemeddelelse
Leading global ESG ratings agency Sustainalytics notes Grünenthal is in the top five percent among its peers in the pharmaceutical subindustry Grünenthal is categorized as “medium risk”, placing it ahead of its key subindustry peers and in the same league as multinational companies like Pfizer and Roche Aachen, Germany, 7 April 2021 – Grünenthal, a global science-based pharmaceutical company, today announced that Sustainalytics, a Morningstar company and a globally-recognized provider of ESG research, ratings and data, has assessed it as having overall medium ESG risk. In addition, Sustainalytics acknowledged that Grünenthal has a strong management of its ESG risks. This places Grünenthal in the top five percent of the global pharmaceuticals subsector. “The long-term success of companies can no longer be measured by financial success alone. As a science-based company, Grünenthal strives to make a net-positive impact on the society,” said Gabriel Baertschi, CEO Grünenthal. “While we are
Grünenthal and Averitas Pharma announce initiation of Phase III study with QUTENZA® to prepare label extension in the US for the treatment of post-surgical neuropathic pain30.3.2021 15:06:52 CEST | Pressemeddelelse
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Peripheral NOP agonist addressing chronic peripheral neuropathic pain enters clinical development16.12.2020 11:36:24 CET | Press release
Aachen, Germany, 16 December 2020 –Grünenthal announced today that the first participants have been enrolled in a Phase I trial of a peripherally restricted Nociceptin/orphanin peptide receptor (NOP) agonist, an oral investigational medicine with a unique mechanism of action for the treatment of chronic peripheral neuropathic pain. The Phase I trial will include 76 healthy participants. The trial aims to demonstrate a favourable safety and tolerability profile and to confirm the pharmacokinetic characteristics of the compound following single and multiple-ascending doses. The results of the study are expected to be available in 2021. “Pain remains a high unmet medical need that we strive to address with innovative medicines. Progressing our peripheral NOP agonist into clinical development is a major success in our efforts to build an industry-leading pipeline of investigational medicines,” says Jan Adams, M.D., Chief Scientific Officer, Grünenthal. “By driving the development of innova