Business & Finance
Grünenthal to acquire European rights to Nexium and global (ex US and Japan) rights to Vimovo
30 October 2018 -

German pharmaceutical company Grünenthal said on Monday 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 USD922m (EUR811m) subject to approval from the relevant antitrust authorities.

The company stated 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).Nexium (esomeprazole) is used to treat gastroesophageal reflux disease, ulcers, and Zollinger-Ellison syndrome.

According to the company, 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 agreement grants Grünenthal with 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 USD248m (EUR220 m).

Grünenthal will obtain Vimovo global commercialisation 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 USD79m (EUR70m) in in-scope markets in 2017.

Following closing of this acquisition in December 2018, Grünenthal is expected to double its EBITDA performance as well as significantly enhance its business across multiple pain related therapeutic categories and geographies.