Apotex has secured exclusive Canadian rights to Nebido, a long-acting injectable therapy for male hypogonadism, through a licensing agreement with Grünenthal. The deal, announced February 5, 2026, puts its branded division, Searchlight Pharma, in charge of marketing and distributing the drug in Canada once regulators give the green light.
Under the agreement, Grünenthal will receive an upfront payment, regulatory milestone payments, and a cut of sales. The two companies already had a working relationship, and both described the move as part of their shared goal of expanding access to important medicines for Canadians.
What Nebido treats and how it works
Hypogonadism, or testosterone deficiency, means the testes produce little or no testosterone. Symptoms include low libido, erectile dysfunction, fatigue, smaller testes, loss of muscle mass, and sometimes depression. The condition affects roughly one in six men over 50, yet only one in ten receives treatment.
Nebido is an injectable depot formulation of testosterone undecanoate.
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A physician administers it every 10 to 14 weeks, making it a long-acting option compared to shorter-acting gels or injections.
Apotex’s first step into testosterone therapy
Mark Nawacki, president of Searchlight Pharma, said the agreement marks Apotex’s first foray into testosterone therapy and opens a new therapeutic area for the company.
“Nebido addresses a recognized need in men’s health,” he said.
It is the largest Canadian-based pharmaceutical company, with a portfolio spanning generics, biosimilars, and branded drugs. The licensing deal bolsters its branded offerings and expands its presence in specialty care.
Jan Adams, chief commercial officer at Grünenthal, said the partnership extends the global footprint of Nebido, a brand the German company acquired in 2022 as part of a growth strategy. It has invested over €2 billion in mergers and acquisitions since 2017, diversifying its portfolio and building capabilities in manufacturing, supply chains, and logistics.
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Grünenthal’s broader portfolio
Based in Aachen, Germany, Grünenthal is known as a pain-management specialist.
It employs about 4,300 people and reported revenues of €1.8 billion in 2024.
Its products reach roughly 100 countries.
The licensing deal is one of several moves the firm has made to expand beyond its core pain focus into hormone therapies and other areas.
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For Apotex, the licensing agreement adds a well-known brand to its Canadian lineup without the risk and cost of developing a new drug from scratch.
Regulatory approval is still needed, and no timeline was given.
The treatment gap points to a large potential market, if awareness and diagnosis improve.
The arrangement is a straightforward licensing deal, not a full acquisition. Grünenthal keeps ownership of the global rights while Apotex gets exclusive Canadian marketing rights. It’s the kind of partnership that’s become common in pharma, where a smaller or regional company handles local distribution of a brand developed by a larger player.