Tuesday, September 22, 2026

Grünenthal to acquire Stivarga from Bayer

Grünenthal has signed an agreement with Bayer AG to acquire Stivarga®, an oral cancer medicine. The transaction value may reach €375 million, according to the company. Completion remains subject to customary closing conditions, including regulatory approvals.

The Aachen-based pharmaceutical company expects the deal to close by the end of 2026 or in early 2027. Stivarga®, whose active ingredient is regorafenib, is approved and available in more than 90 markets.

Oral treatment for advanced cancers

Stivarga® is an oral multikinase inhibitor used in selected advanced cancers, including metastatic colorectal cancer, gastrointestinal stromal tumours and hepatocellular carcinoma. It is intended for patients who have previously received other available treatments or cannot receive them.

In the European Union, the medicine is indicated as monotherapy for adult patients with metastatic colorectal cancer after prior treatment or where available therapies are not considered suitable. It is also indicated for adult patients with unresectable or metastatic gastrointestinal stromal tumours after progression on or intolerance to imatinib and sunitinib, and for adult patients with hepatocellular carcinoma previously treated with sorafenib.

In the United States, Stivarga® is also approved for defined patient groups in metastatic colorectal cancer, locally advanced, unresectable or metastatic gastrointestinal stromal tumours, and hepatocellular carcinoma.

Focus on established medicines

Grünenthal described the planned acquisition as part of its strategy to add established medicines that address defined medical needs. The company aims to use its commercial and operational capabilities to support the product. Since 2017, Grünenthal says it has invested around €2.6 billion in M&A transactions.

Previous portfolio additions include global rights to Nebido™, rights to Cialis® in Mexico, Brazil and Colombia, European rights to Crestor™ and Nexium™, and global rights to Vimovo™ outside the US and Japan, Zomig™ outside Japan, and Qutenza™. Grünenthal also acquired US-based Valinor Pharma and Movantik® in 2024, and this year took full ownership of Grünenthal Meds.

Expected earnings contribution

Grünenthal estimates that Stivarga® could contribute up to about €100 million to consolidated EBITDA in the financial year ending 31 December 2027. The estimate assumes closing by the end of 2026 or early 2027 and full-year consolidation, based on information made available by Bayer.

Loss of exclusivity for Stivarga® is expected in 2029 in the European Union and in 2030 in the United States, according to Grünenthal.