A&O advises Grünenthal on USD922 million deal with AstraZeneca for Nexium and Vimovo
30 October 2018
Allen & Overy has advised science-based pharmaceutical company Grünenthal on its acquisition of AstraZeneca’s European rights to prescription Nexium and the global (excluding the US and Japan) rights to Vimovo for a total maximum consideration of USD922 million, including milestones. The transaction marks the single biggest investment in Grünenthal’s history, significantly strengthening the company’s position as a worldwide leader in innovative pain management and related therapies.
The A&O team was led by corporate M&A partner Matthew Appleton, with corporate partner Nigel Parker advising on commercial/IP aspects of the transactions. Counsel Thomas Masterman provided antitrust advice. Partner Ken Coleman provided U.S. related advice and German partner Heike Weber advised on tax aspects.
Grünenthal’s team was led by Sebastian Köhler, General Counsel, together with in-house counsel Claudia Schmidt and Sabine Kruth.
Matthew Appleton comments: “We were delighted to work hand in hand with Grünenthal’s dynamic and commercially-focused legal team to deliver this transformational deal successfully.”
The transaction is subject to approval from relevant antitrust authorities, with closing expected in December 2018.
For further information, please contact Elizabeth Randall, Elizabeth.Randall@allenovery.com on +44 (0)20 3088 2989.