Kyowa Kirin and Grunenthal formed a joint venture.

Kyowa Kirin, a global specialty pharmaceutical company that applies state-of-the-art biotechnologies to discover and deliver novel medicines, and Grunenthal, an independent, family-owned, international research-based pharmaceutical company, formed a joint venture. Financial terms were not disclosed. "The established medicines portfolio has a proud history of delivering life-changing value for patients. Today's announcement now means even more patients, for many years to come, will continue to benefit from the portfolio. We are enormously grateful and proud of our colleagues who have worked tirelessly to make this Joint Venture Collaboration a reality," Jeremy Morgan, Kyowa Kirin President.