GRUNENTHAL MEDS HOLDCO LTD

• ⚠

  Material uncertainty over going concern

  The impact of the planned sale of the Company is such that the Directors are unable to make decisions regarding the future operations of the Company after the completion of the transaction and therefore, at the time of signing this opinion, are unable to accurately assess the impact of the sale on the business. These events and conditions, along with the other matters explained in note 1.2, constitute a material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern.

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  -39%

  £27,783,000 → £16,957,000

• Cash

  -8.1%

  £1,498,000 → £1,376,000

• Net assets

  -15.4%

  £358,576,000 → £303,455,000

• Employees

  —

  Not reported

• Operating profit

  -5.9%

  £8,034,000 → £7,559,000

• Profit before tax

  -4.9%

  £48,029,000 → £45,672,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. GRUNENTHAL MEDS HOLDCO LTD 2026-03-02 → present
2. KYOWA KIRIN INTERNATIONAL HOLDCO LTD 2022-11-09 → 2026-03-02

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The impact of the planned sale of the Company is such that the Directors are unable to make decisions regarding the future operations of the Company after the completion of the transaction and therefore, at the time of signing this opinion, are unable to accurately assess the impact of the sale on the business. These events and conditions, along with the other matters explained in note 1.2, constitute a material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern.”

Significant events

• “On 21 January 2026, Grünenthal exercised its contractual option to acquire 100% of the shares in the Company. Upon completion, this will result in Grünenthal obtaining 100% ownership and control of the Company and Grünenthal Meds through the Company's held investment in the joint venture. Completion of the transaction is expected by the end of February 2026, subject to customary completion conditions and the legal transfer of shares.”
• “On 12 February 2026, Grünenthal settled the deferred consideration in respect of the intellectual property disposals. The deferred payment amounted to £168.6m. On the same date, the Company declared and paid a cash dividend of £168.6m to its parent undertaking, Kyowa Kirin International plc.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

12

last 12 months

Capital events

2

last 24 months

Officers appointed

2

last 12 months

Officers resigned

3

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.