Grünenthal establishes footprint in U.S. with acquisition of N.J.-based Averitas Pharma

Germany-based Grünenthal has extended its commercial footprint in the United States with its acquisition of Morristown-based Averitas Pharma, it announced Wednesday.

Under the deal, Averitas will commercialize the pain patch Qutenza for Grünenthal in the U.S. Grünenthal said it has only recently acquired the remaining global rights for the product from Acorda Therapeutics.

“I am proud to say that we are now establishing our own commercial presence in the world’s biggest pharma market, the U.S., for the first time,” Gabriel Baertschi, Grünenthal CEO, said. “This acquisition is another important milestone in executing our growth strategy and expanding our business across multiple pain related therapeutic categories and geographies. Averitas Pharma is a perfect match due to its significant specialty pharma expertise in the U.S. market and experience in different commercial models also beyond the typical ‘reach and frequency’ approach.”

Financial terms were not disclosed.