Grünenthal press release 2012

Divestiture of Grünenthal's Portfolio in the CEE Region Successfully Completed

Aachen (Germany), January 27, 2012. As very recently the Polish authorities have finally cleared the planned divestiture of the Grünenthal portfolio in the EU member states of the CEE region (mainly Poland, Czech Republic, Slovakia, etc.) to STADA Arzneimittel AG, the pain specialist today announces the successful signing of the transaction.

It was possible to successfully renegotiate the divestiture with STADA despite the unexpected withdrawal of the Bad Vilbel (Germany) based company from the original deal on January 1, 2012. The purchase price for the so-called Cluster 1 countries as part of the package of four clusters is EUR 160mn. As a result, all business will be consolidated within STADA by February 1, 2012. Taking various aspects into account, this purchase offer was the most attractive of all bids received by Grünenthal. It was possible to achieve excellent divestment multiples of more than five times revenues (FY 2011) for the franchises of the Eastern Europe, Central Eastern Europe and Middle East region.

The international pain specialist headquartered in Aachen concluded its strategic focusing efforts with this important final step. With the significant liquidity accumulated through divestment of all non-core assets over the last two years, Grünenthal will be able to successfully complete its accelerated growth strategy through acquisitions, with a strong focus on Latin America.

About Grünenthal Group
The Grünenthal Group is an independent, family-owned international research based pharmaceutical company headquartered in Aachen, Germany. Building on its unique position in pain, its objective is to become the most patient-centric company to be a leader in therapy innovation. Altogether, the Grünenthal Group has affiliates in 36 countries worldwide. Grünenthal products are sold in more than 100 countries and approx. 4,900 employees are working for the Grünenthal Group globally. In 2010, Grünenthal reached revenues of about 910 Mio €.
More information: www.grunenthal.com

Frank Schönrock

Vice President Corporate Affairs

Grünenthal GmbH

52099 Aachen

E-Mail: frank.schoenrock@grunenthal.com

Phone: +49 241 569-1568

Fax: +49 241 569-3539