Grünenthal delivers exceptional financial results in 2024, powered by strategic growth and Valinor acquisition in the US

EQS-News: Grünenthal GmbH / Key word(s): Annual Results
Grünenthal delivers exceptional financial results in 2024, powered by strategic growth and Valinor acquisition in the US
27.03.2025 / 09:31 CET/CEST
The issuer is solely responsible for the content of this announcement.

Grünenthal delivers exceptional financial results in 2024, powered by strategic growth and Valinor acquisition in the US

• Revenue remained robust at €1.8 billion, with an impressive adjusted EBITDA of €412 million, showcasing Grünenthal’s resilience in the face of expected challenges following Palexia^TM’s loss of exclusivity. Remarkable growth in Qutenza^TM, disciplined cost management and strategic acquisitions helped counterbalance this effect. The strong performance enabled a +13% increase in operating cash flow, reaching €212 million in 2024.
• The strategic acquisition of Valinor Pharma, along with its product Movantik^TM, has significantly strengthened Grünenthal’s portfolio and bolstered its presence in the US, now the company’s second-largest affiliate globally. Increased efficiency in Europe and Latin America also improved our cost profile.
• Grünenthal closed the year with a strong financial foundation, achieving a net leverage of 2.52x and issuing a €500 million bond in November 2024, reinforcing liquidity and positioning the company for future investments in R&D and further strategic acquisitions.
• Grünenthal is advancing its innovation pipeline, with the GRM and NOP programmes moving into the next phases of clinical development, and continued progress in its Na_v compounds. The company will also focus on accelerating profitable growth in Qutenza^TM and Established Brands, while integrating Valinor Pharma and pursuing further strategic acquisitions.

Aachen, Germany, 27 March 2025 – Grünenthal, a global leader in pain management and research, has published its 2024 financial results, marking a year of impressive resilience, strategic growth and operational excellence.

Despite the challenges presented by the first full year of Palexia^TM’s loss of exclusivity, Grünenthal achieved a stable revenue of €1.8 billion, driven by remarkable Qutenza^TM growth, expanding portfolio and exceptional cost management.

Adjusted EBITDA reached €412 million, which is an increase of +9% when considering the impact of Palexia^TM generics and a testament to Grünenthal’s ability to adapt and thrive amid market challenges while fortifying its core business. In addition, strong business performance enabled a +13% increase in operating cash flow, reaching €212 million in 2024.

Gabriel Baertschi, CEO and Chairman of the Corporate Executive Board, said: “Grünenthal’s outstanding 2024 performance underscores our ability to not only adapt but excel in a dynamic market. We have maintained stable revenue, expanded our US footprint and strengthened our portfolio through strategic acquisitions. Our unwavering focus is on improving the lives of those suffering from pain while delivering sustainable, profitable growth and advancing our commitment to innovation and responsibility.”

Grünenthal’s strategic expansion continued in 2024 with the acquisition of Valinor Pharma and the product Movantik^TM in July. The company also integrated key brands from its Grünenthal Meds joint venture with Kyowa Kirin International, further supporting its growth-focused business model. As a result, Grünenthal successfully expanded its presence in the US, which is now its second-largest affiliate worldwide.

In pursuit of long-term efficiency, Grünenthal accelerated its cost reduction programmes, generating commercial savings across Europe and Latin America. The company also completed significant facility upgrades in Latin America and optimised its supply chain, solidifying its operational foundation.

Additionally, Grünenthal made substantial progress in digital transformation, implementing initiatives aimed at enhancing automation, data-driven decision-making and operational efficiency. These efforts ensure that Grünenthal remains strategically positioned for continued success.

Maintaining a solid financial position, Grünenthal concluded the year with a net leverage of 2.52x, offering the flexibility to invest in strategic priorities. The company further strengthened its liquidity and investment capacity by issuing a €500 million bond in November 2024, supporting future growth initiatives.

Fabian Raschke, CFO, commented: “Our financial results are a reflection of the strength and resilience of our business model. The acquisition of Valinor Pharma has been a key catalyst for growth, expanding our portfolio and global footprint. We have effectively managed cost efficiency, reinforced our financial flexibility and continue to invest in our future. Looking ahead, we remain focused on driving profitability and maximising value across our diverse portfolio.”

With this momentum, Grünenthal is poised to continue advancing its key R&D programmes, including moving the Glucocorticoid Receptor Modulator (GRM) and the Nociceptin (NOP) Receptor Agonist programmes into the next development phases, and progressing its Na_v compounds, addressing voltage-gated sodium channels critical to pain transmission. The company will also focus on accelerating profitable growth in Qutenza^TM and its Established Brands, while smoothly integrating Valinor Pharma and pursuing further strategic acquisitions.

Grünenthal remains a leader in environmental, social, and governance (ESG) initiatives, securing a provisional AA rating from MSCI in October 2024 and earning recognition as an ESG top-rated company by Sustainalytics in February 2025.

About Grünenthal

Grünenthal is a global leader in pain management and related diseases. As a science-based, fully integrated pharmaceutical company, we have a long track record of bringing innovative treatments and state-of-the-art technologies to patients worldwide. Our purpose is to change lives for the better – and innovation is our passion. We focus all our activities and efforts on working towards our vision of a World Free of Pain.

Grünenthal is headquartered in Aachen, Germany, and has affiliates in 28 countries across Europe, Latin America, and the U.S. Our products are available in approx. 100 countries. In 2024, Grünenthal employed around 4,300 people and achieved revenues of €1.8 billion.

More information: https://www.grunenthal.com

Follow us on: LinkedIn: Grunenthal Group

Instagram: grunenthal

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