Grünenthal, a leading global pharmaceutical company specializing in pain management and related diseases, has entered into a strategic licensing agreement with Apotex Inc., the largest Canadian-based pharmaceutical company. The agreement grants Apotex exclusive rights to market and distribute Qutenza®, a topical pain patch for the management of neuropathic pain, in Canada.
Under the terms of the agreement, Searchlight Pharma, Apotex’s Specialty Pharma Division, will pursue marketing authorization for Qutenza® and handle its distribution upon regulatory approval. In addition, Grünenthal will receive an upfront payment, as well as regulatory milestone payments and royalties.
Grünenthal acquired the global rights to Qutenza® in 2018 as part of its growth strategy, and has since invested over €2 billion in successful M&A transactions. The company continues to integrate acquired brands into its infrastructure, creating synergies throughout manufacturing, logistics, and commercial activities.
According to Jan Adams, Chief Commercial Officer at Grünenthal, the company has made continuous efforts to expand the reach of Qutenza® and help more patients in need. He believes that Apotex, with its exceptional commercial capabilities, is the perfect partner to tap into the Canadian market, which is one of the largest pharmaceutical markets in the world.
The agreement also reflects Apotex’s commitment to meeting the needs of patients through innovative solutions and further expands its global portfolio of over 550 pharmaceutical and consumer health products.
Mark Nawacki, President of Searchlight, stated that licensing the Canadian rights to Qutenza® will improve the lives of Canadians by providing them with a differentiated and novel treatment for neuropathic pain, which is already available in the EU and US markets. He sees this agreement as a demonstration of their continued momentum towards their Journey of Health growth strategy and dedication to enhancing patient care.
Qutenza® is currently indicated for the treatment of peripheral neuropathic pain in adults, either alone or in combination with other medicinal products. For more information, please visit www.grunenthalhealth.com. In the US, Qutenza® is approved for the treatment of neuropathic pain associated with postherpetic neuralgia and diabetic peripheral neuropathy in adults. Important safety information can be found at www.qutenza.com.
Grünenthal, headquartered in Aachen, Germany, has affiliates in 27 countries across Europe, Latin America, and the US. Their products are available in approximately 100 countries, and in 2023, the company employed around 4,400 people and generated revenues of €1.8 billion. For more information, visit www.grunenthal.com and follow them on LinkedIn and Instagram.
Apotex is a Canadian-based global health company that improves access to affordable, innovative medicines and health products for millions of people worldwide. Their portfolio includes generic, biosimilar, and branded pharmaceuticals, as well as consumer health products. With headquarters in Toronto and regional offices globally, Apotex is the largest Canadian-based pharmaceutical company and a preferred health partner in the Americas for pharmaceutical licensing and product acquisitions. To learn more, visit www.apotex.com and www.searchlightpharma.com.
For media inquiries, please contact Florian Dieckmann, Head of Global Corporate Affairs at Grünenthal, at +49 241 569-2555 or florian.dieckmann@grunenthal.com. For Apotex media inquiries, please email media@apotex.com.
This news story is distributed by https://pressat.co.uk/.
