- Grünenthal acquires Valinor Pharma in an all-stock deal and
becomes the owner of the global rights to Movantik® (naloxegol)
- Valinor Pharma had owned Movantik since early 2023 and
leveraged Apollo Care's commercial
platform to grow Movantik volume in the U.S. while reducing
gross-to-net and operating costs
- First quarter financial highlights include revenue growth of
150% and highest-ever EBITDA
CHICAGO, July 22,
2024 /PRNewswire/ -- Valinor Pharma, LLC
("Valinor") announced today it was purchased by Grünenthal for a
total deal value of approximately $250
million in upfront cash consideration.
"Today's announcement recognizes the significant value we have
built for our patients and shareholders," said Todd N. Smith, CEO of Valinor. "This acquisition
comes at a great time as Valinor has implemented an innovative
commercial platform of sales and patient access tools that will
provide Grünenthal with a strong foundation for future growth."
Over the last 12 months, in partnership with Apollo Care, Valinor has implemented a suite of
integrated sales, analytics, patient access, and gross-to-net
management solutions that have provided the basis for record
prescription growth while reducing gross-to-net and operating
costs.
"We are proud of the remarkable achievements of our team," said
Ben Bove, President of Valinor. "In
short order, we have been able to transform the commercial and
financial performance of Movantik by executing on an innovative
commercial strategy that has reduced gross-to-net costs while
simultaneously driving prescription growth and improved access for
patients."
Movantik's performance was steadily declining prior to Valinor's
acquisition but has grown consistently since 2023. Driven by
Movantik, Valinor's net revenues in the first quarter of 2024 were
150% higher than the first quarter of 2023, and the business
recorded its highest-ever EBITDA.
"The strategy executed by the Valinor team combined with the
innovative Apollo Care solutions has
substantially transformed Movantik in a brief amount of time," said
Clarke B. Futch, Chairman of Valinor
and CEO of HealthCare Royalty. "The performance of Valinor
demonstrates that differentiated products like Movantik can still
be very successful in mature markets with the right strategies,
tools, and execution."
Advisors
RBC Capital Markets, LLC acted as lead
financial advisor to Valinor, and Wells Fargo also acted as
financial advisor. McDermott Will
& Emery LLP acted as legal advisor to Valinor.
About Valinor
Valinor strives to bring significant
value and impact to patients, healthcare providers, and investors.
It was founded on the simple but powerful belief that serving
patients is foremost and successful commercialization of therapies
is achievable in today's market. By applying commercial expertise
and innovation guided by analytics, we can help address the market
challenges that stand between providers, patients, and their
medications. For more information, please visit
www.valinorrx.com.
About Apollo
Care
Apollo Care
develops and deploys patient access and analytics solutions through
purpose-built technology to help pharmaceutical brands address
commercial challenges. With a history of industry-first innovation,
Apollo Care is rethinking outdated
industry practices to deliver integrated solutions that drive
growth, optimize gross-to-net costs, and improve patient outcomes.
Apollo Care is based in Chicago, Illinois. For more information,
please visit www.apollocare.com or follow us on LinkedIn.
Media Contact
Media@biotechcomm.com
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SOURCE Valinor Pharma