German pain management specialist Grünenthal has acquired U.S.-based Valinor Pharma for $250 million, in a transaction that includes Movantik (naloxegol), a medication designed to treat opioid-induced constipation in adults with chronic, non-cancer pain.
Movantik works by blocking the effects of opioids on the gut without affecting pain relief in the central nervous system. This makes it particularly useful for patients who need pain management but suffer from constipation as a side effect. First approved in 2014, Movantik generated over $200 million in gross sales in the U.S. last year.
Initially commercialized by AstraZeneca in the U.S., the drug’s European rights were licensed to Kyowa Kirin in 2016. In 2020, RedHill Biopharma acquired the U.S. rights from AstraZeneca. In 2023, Grünenthal acquired the European rights as part of a joint venture with Kyowa Kirin. Valinor Pharma, subsequently acquired the U.S. rights from RedHill Biopharma.
Since 2017, Grünenthal has invested more than $2.1 billion (€2 billion) in acquiring various pharmaceutical assets. These acquisitions include well-known medications like Nebido, Crestor, Nexium, Vimovo, Qutenza and Zomig.