Grunenthal Acquires Averitas Pharma and Establishes Commercial Footprint in the US

PR76292

AACHEN, Germany and MORRISTOWN, New Jersey, November 14, 2018 /PRNewswire=KYODO JBN/ --

      Grunenthal announced today that it has acquired the US-based

pharmaceutical company Averitas Pharma, thereby extending its commercial

footprint to the United States. Averitas Pharma will be commercialising the

pain patch Qutenza(R) (8 % capsaicin) for Grunenthal in the US. Grunenthal had

only recently acquired the remaining global rights, including the US rights,

for the product from Acorda Therapeutics.

    "I am proud to say that we are now establishing our own commercial presence

in the world's biggest pharma market, the US, for the first time," says Gabriel

Baertschi, Grunenthal's Chief Executive Officer. "This acquisition is another

important milestone in executing our growth strategy and expanding our business

across multiple pain related therapeutic categories and geographies. Averitas

Pharma is a perfect match due to its significant specialty pharma expertise in

the US market and experience in different commercial models also beyond the

typical 'reach and frequency' approach".

    Averitas Pharma will be enhancing the commercial distribution model for

Qutenza(R) towards a specialty pharmacy and hub services model that makes it

easier for patients to access the product and support health care professionals

in prescribing and applying it. "This will help us transitioning and ramping up

the Qutenza(R) US business, bringing the product back on the growth path in the

US," explains Gabriel Baertschi.

    Qutenza(R) is a local analgesic and an alternative to the current standard

of care, as there is still a high unmet medical need in pain management,

particularly for non-opioid and non-systemic treatments. In Europe, it is

approved for a broad peripheral neuropathic pain indication in adults, e.g.

post-surgical neuropathic pain, cancer-related neuropathic pain and painful

diabetic peripheral neuropathy. In the US, Qutenza(R) is currently only

approved for the treatment of postherpetic neuralgia (PHN). Averitas Pharma

will work towards a broader neuropathic pain label from the US Food & Drug

Administration (FDA).

    Grunenthal continues executing its growth strategy and has been expanding

its pain portfolio by a series of acquisitions including European rights to

Nexium(R), the global (ex US and Japan) rights to Vimovo(R), the global rights

to Qutenza(R) and global (ex Japan) rights to Zomig(R). The company has signed

deals with a total value of more than US$ 1.3 billion since 2016.

    About Qutenza(R)

    Qutenza(R) (capsaicin) 8% patch is approved in the US for the management of

neuropathic pain associated with postherpetic neuralgia. A single, 1-hour,

localized treatment with Qutenza(R) may provide 3 months of relief from

post-shingles nerve pain (PHN). In Europe, Qutenza(R) is approved by the

European Medicines Agency for the treatment of peripheral neuropathic pain in

adults, including post-surgical neuropathic pain, cancer-related neuropathic

pain and painful diabetic peripheral neuropathy, either alone or in combination

with other pain medicines. The 8% capsaicin patch delivers a high dose of

capsaicin directly to the damaged nerves in the skin that are the source of

neuropathic pain. Applied to the area of pain, the capsaicin reduces the

spontaneous activity and consequently reduces the neuropathic pain intensity.

Important safety information can be found here: http://www.qutenza.com and

http://www.ema.europa.eu/documents/product-information/qutenza-epar-product-information_en.pdf

    About Grunenthal

    Grunenthal 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.

    Grunenthal 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 Grunenthal worldwide. In 2017,

Grunenthal achieved revenues of approx. EUR 1.3 bn.

    More information: http://www.grunenthal.com

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    For further information, please contact:     

    Stepan Kracala     

Head Global Communications     

Tel.: +49-241-569-1335     

Stepan.Kracala@grunenthal.com     

Grunenthal GmbH, 52099 Aachen, Germany

    Kerstin Nacken     

Head Editorial Management and Media Relations     

Tel.: +49-241-569-2710     

Kerstin.Nacken@grunenthal.com     

Grunenthal GmbH, 52099 Aachen, Germany

Source: Grunenthal Group