EQS-News

Grünenthal GmbH: Grünenthal reports record revenue and profit in 2022 full-year results and strong pipeline progress

EQS-News: Grünenthal GmbH / Key word(s): Annual Results Grünenthal GmbH: Grünenthal reports record revenue and profit in 2022 full-year results and strong pipeline progress (news with additional features) 27.03.2023 / 09:33 CET/CEST The issuer is solely responsible for the content of this announcement. Grünenthal reports record revenue and profit in 2022 full-year results

and strong pipeline progress

 

• In 2022, Grünenthal generated €1.7 billion in revenues, an increase of 13 percent over prior year.
• Adjusted EBITDA increased by 18 percent to €438 million and more than tripled since 2017.
• Substantial pipeline advancement with two late-stage development projects in osteoarthritis and post-surgical neuropathic pain and two projects in early development focused on chronic pain and inflammatory diseases.
• M&A highlights include the acquisition of Nebido from Bayer and the joint venture agreement with Kyowa Kirin to acquire their portfolio of established pain brands.

 

Aachen, Germany, 27 March 2023 – Grünenthal, the leading pharmaceutical company in pain research and management, released its 2022 full-year results, announcing record revenue and adjusted EBITDA.

The company exceeded its financial and non-financial targets, progressing on its growth path. Net revenues reached €1.7 billion, an increase of 13 percent compared to 2021. The adjusted EBITDA reached €438 million, an increase of 18 percent over 2021, and more than tripled since 2017. Grünenthal has also more than tripled its operating cash flow since 2017, positioning the company well to further invest in advancing the R&D pipeline, continuing the M&A strategy, and growing the business in the United States.

The 2022 results were driven by excellent business performance and revenues from strategic partnerships. Key brands such as Qutenza, Palexia, Vimovo, and Zomig performed well and grew faster than the market. Qutenza, a topical non-opioid treatment for various neuropathic pain conditions, saw a surge in demand, particularly in the U.S., where the product is indicated for treating post-herpetic neuralgia and pain related to diabetic neuropathy of the feet, a market sized ~$4,5bn.