Reorganization of the Corporate Management Structure of Grünenthal Group

AACHEN, Germany, May 29, 2013 /PRNewswire/ --

Grünenthal's Supervisory Board has decided on a reorganization of the Corporate Management structure of the international pharmaceutical company with headquarters in Germany. To enable the realization of our corporate strategy, especially accelerating organic as well as external growth in Latin America, all required sources will now be focused under the leadership of Prof. Eric-Paul Pâques.

Prof. Pâques, as president of Grünenthal's Strategic Business Unit (SBU) Grünenthal Innovation and Chief Alliance Officer to date, will now concentrate on Business Development & Licensing as well as on Portfolio Management. Both areas have gained increasing importance. At the same time Prof. Pâques takes over the responsibility for the SBU Latin America, which is led by Oscar Ferenczi. Together they will further drive our strategic growth objectives in this region.

With effect from July 1^st, 2013 Prof. Pâques assigns his responsibility related to the business area Research & Development to Dr. Klaus-Dieter Langner, to date Executive Vice President SBU Grünenthal Innovation and long-term head of preclinical trials.

In addition to his responsibility for SBU Europe & Australia, Dr. Alberto Grua takes responsibility for Grünenthal's commercial activities in the US.

With effect from July 1st, 2013 Dr. Langner as well as Dr. Grua will be assigned as new members of the Corporate Management Board and will join Prof. Pâques as well as Stefan Genten as long-term Chief Financial Officer and Chief Operating Officer in this function.

The previous Chief Executive Officer, Dr. Harald Stock, has formally resigned his function with the effect of yesterday. An external search will be initiated. Meanwhile, Prof. Pâques takes over the chairmanship of the Group Executive Management.

"The Supervisory Board expresses thanks to Dr. Harald F. Stock for his achievements in driving the strategic development for the company that fall under his leadership", commented Dr. Hasso Kaempfe, Chairman of the Supervisory Board of Grünenthal Group

About Grünenthal

The Grünenthal Group is an independent, family-owned, international research-based pharmaceutical company headquartered in Aachen, Germany. Building on its unique position in pain treatment, its objective is to become the most patient-centric company and thus to be a leader in therapy innovation. Grünenthal is one of the last five remaining research-oriented pharmaceutical companies with headquarters in Germany which sustainably invests in research and development. Research and development costs amounted to about 26 percent of revenues in 2012. Grünenthal's research and development strategy concentrates on selected fields of therapy and state-of-the-art technologies. We are intensely focused on discovering new ways to treat pain better and more effectively, with fewer side-effects than current therapies. Altogether, the Grünenthal Group has affiliates in 26 countries worldwide. Grünenthal products are sold in more than 155 countries. Today, approx. 4,400 employees are working for the Grünenthal Group worldwide. In 2012, Grünenthal achieved revenues of €973 mn.

Contact: Frank Schönrock, Vice President Corporate Affairs, Tel.: +49-241-569-1568, Fax: +49-241-569-3539, [email protected]

Grünenthal GmbH, 52099 Aachen, Deutschland, http://www.grunenthal.com

SOURCE Grunenthal GmbH