A&O advises Grünenthal on its acquisition of the European rights to Crestor from AstraZeneca
02 December 2020
Allen & Overy’s international healthcare transactions team has advised global science-based, privately-owned pharmaceutical company Grünenthal on the acquisition from AstraZeneca of the European rights (excluding Spain and the UK) to Crestor (rosuvastatin) and its associated brands for USD350 million.
Crestor is among the leading statin products in Europe and is indicated for the treatment of dyslipidaemia, hypercholesterolaemia and the prevention of cardiovascular events. The deal will see Grünenthal acquire the exclusive rights to Crestor and its second brands in more than 30 European markets. Grünenthal will also take over bulk production and packaging for the defined markets by 2025.
This transaction follows Grünenthal’s previous acquisitions from AstraZeneca, which A&O also advised Grünenthal on, including the 2018 acquisition of the European rights to prescription Nexium and the global rights to Vimovo.
Partner Matthew Appleton, who led the A&O team advising on this transaction, comments: “We were very happy to bring our international healthcare expertise to support the Grünenthal team in executing such an important deal for their strategy.”
Grünenthal’s team was led by Sebastian Köhler, General Counsel, together with in-house senior legal counsel Maren Müller and Sabine Kruth and Global Compliance Officer Cordula Meckenstock.
The Allen & Overy team was led by Matthew Appleton, with an M&A team comprising counsel Gareth Irving and associate Ben Brooks. Commercial/IP aspects were led by London-based partner and global co-head of Life Sciences Jim Ford, with a team comprising senior associate Alexandra Rendell and associate Megan McMellon.
Specialist tax advice was provided by partner Heike Weber and senior associate Thomas Dieker in Frankfurt. Antitrust aspects were led by counsel Thomas Masterman and associate Nadeem Brora in London, with counsel René Galle and associate Soeren Burdinski in Hamburg. Paris counsel Eveline Van Keymeulen and associate Jeanne Fabre provided regulatory advice and London partner Mark Heaney and associate Melissa Duquemin advised on patent/litigation aspects. Compliance advice was provided by London partner Matthew Townsend, with senior associate Jonathan Benson and associate Sophie Davis.