WilmerHale Advises Gedeon Richter on the Acquisition of Grünenthal’s Oral Contraceptive Portfolio

WilmerHale Advises Gedeon Richter on the Acquisition of Grünenthal’s Oral Contraceptive Portfolio

News
WilmerHale has advised Hungarian pharmaceutical company Gedeon Richter Plc on its acquisition of the oral contraceptive portfolio of Grünenthal GmbH, headquartered in Aachen, Germany. The parties announced the signing of the transaction on November 3, 2010. The total purchase price including marketing rights was EUR 236.5 million. The closing of the transaction was subject to the approval of the German Federal Cartel Office.

Gedeon Richter, headquartered in Budapest, is one of the largest pharmaceutical companies in Central Eastern Europe with a turnover of approximately EUR 1 billion in 2009 and a market capitalization of EUR 3.2 billion.

The acquisition of Grünenthal’s existing oral contraceptive business which includes, amongst others, its leading brand Belara, represents another strategic step for Gedeon Richter, both strengthening its presence in Western European markets as well as expanding its oral contraceptive product portfolio. In 2009, total worldwide sales of Grünenthal’s oral contraceptive portfolio outside Latin America were about EUR 72 million.

The WilmerHale team consisted of Dr. Rüdiger Herrmann (Corporate, M&A), Prof. Dr. Hans-Georg Kamann (Antitrust), Jochen Eimer (Corporate, M&A), Dr. Peter Gey (Antitrust), Dr Stefan Eggert (M&A) , Christoph Harler (M&A), Elena Chertkova (M&A), Dr. Jan Wendler (M&A), Heiko Franke (Antitrust), Dr. Astrid Pönicke (Tax) and Dr. Anja Mengel (Employment Law).