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Grünenthal Report sums up a truly historic year
2018 was a decisive year for Grünenthal – both strategically and financially. The company has now captured all the big and small stories that made 2018 such an exciting year in its annual report.
Highlights included the acquisition of the pain-related brands Nexium™ and Vimovo™, which was the biggest single investment in the company’s history. The second historic moment came when Grünenthal established its own commercial footprint in the world’s largest pharma market, the United States, for the first time.
Furthermore, Grünenthal obtained global rights for Qutenza™ (capsaicin) 8% patch in 2018 and initiated a phase III program to investigate Neridronate for the treatment of Complex Regional Pain Syndrome (CRPS). The FDA has granted Breakthrough Therapy, Fast Track and Orphan Drug Designation for this investigational medicine. And FLIX™, the investigational surgical sealant of Grünenthal’s subsidiary Adhesys Medical, was granted CE-Certification in Europe. Also, Grünenthal is now ready to start a phase II program for a new compound, Neosaxitoxin, which is an innovative local/regional anaesthetic, to be used in peripheral nerve block and wound infiltration.
“The progress we made in 2018 is based on the biggest transformation our company has ever undergone. It was made possible by our outstanding teams worldwide” explains Grünenthal’s CEO Gabriel Baertschi. The company achieved the financial turnaround, stabilised its EBITDA and significantly curbed cost – despite major headwinds due to generic competition and an increasingly challenging reimbursement environment. “Our company is now in a much stronger position than it was last year. We have advanced our pipeline and made strong progress in further executing our ambitious strategy at high pace. Above all, we’re working towards our vision of a world free of pain.”
Read all about it in the Grünenthal Report 2018/19 which is now online.