Grünenthal to buy NebidoTM testosterone treatment from Bayer for €500m
Privately-owned Grünenthal estimates the Nebido brand will add about €100 million to its EBITDA in 2023.
Grünenthal has agreed to acquire testosterone treatment NebidoTM and its associated brands from Bayer AG, for up to €500 million.
The long-acting injectable treatment for testosterone deficiency has been commercially approved in more than 80 countries. Nebido is also patented until March 2024 in the European Union and until May 2027 in the United States.
Nebido is typically administered by a physician every 10-14 weeks for treatment of male hypogonadism or testosterone deficiency,
It can also be used to treat clinical symptoms such as regression of secondary sexual characteristics, change in body composition, asthenia, reduced libido or erectile dysfunction.
“One in six men over 50 live with the symptoms of testosterone deficiency. Too few of these patients receive appropriate treatment. We are committed to facilitating access to treatment for even more patients in need,” commented Gabriel Baertschi, CEO of Grünenthal.
The deal is expected to close by the end of 2022, subject to approval by the relevant competition authorities.
Grünenthal has invested over €2 billion in successful M&A transactions over the last several years. The latest deal to buy testosterone treatment Nebido from Bayer will expand its existing portfolio of medicines.
In 2018, Grünenthal acquired the European rights to Nexium™ as well as the global rights to Vimovo™ (ex-US and Japan) from AstraZeneca. Nexium helps to reduce the amount of acid produced by the stomach in patients with gastrointestinal reflux conditions and ulcers. Vimovo is a modified-release fixed-dose combination tablet of naproxen, a pain-relieving NSAID and esomeprazole, the active ingredient in Nexium, for the treatment of various inflammatory diseases.
Grünenthal also acquired the European rights (excluding Spain and the UK) to statin CRESTOR™ from AstraZeneca, the rights to Qutenza™ (capsaicin 8% patch) from Astellas Pharma Europe, and has the global rights (excluding Japan) to AstraZeneca’s migraine therapy Zomig™.
In 2021, Grünenthal acquired Mestex AG, a Swiss biotech, and its clinical phase medicine resiniferatoxin (MTX-071) for the intra-articular treatment of pain associated with osteoarthritis of the knee.