Aachen, Germany – On Monday, September 21, 2026, Grünenthal, a global leader in pain management and research, announced their agreement with Bayer AG to acquire Stivarga®, an established oral treatment for certain advanced cancers, for up to €375 million. This latest step is part of Grünenthal’s strategic plan to acquire established medicines that fulfill clear medical needs, utilize their commercial and operational capabilities, and drive growth.
Stivarga® (regorafenib) is an oral multikinase inhibitor indicated for metastatic colorectal cancer, gastrointestinal stromal tumors (GIST), and hepatocellular carcinoma (liver cancer) in patients who have already been treated with, or who cannot receive, other available treatments. It is currently approved and available in over 90 markets worldwide.
Grünenthal’s CEO, Gabriel Baertschi, stated, “This acquisition is a strong strategic fit for Grünenthal and reflects our disciplined M&A strategy of acquiring established medicines that address clear and ongoing medical needs and create long-term value.” He continued, “Stivarga® has a well-established role in patient care, and the transaction is immediately accretive to our business. By leveraging the strength of our commercial and operational expertise, we see clear opportunities to maximize the value of the medicine and support Grünenthal’s long-term growth.”
The acquisition is subject to customary closing conditions, including approval by the relevant regulatory authorities. It is expected to close by the end of 2026 or early 2027. The loss of exclusivity for Stivarga® is anticipated in 2029 in the European Union and in 2030 in the United States (US). Grünenthal estimates that Stivarga® may contribute a positive impact on its consolidated EBITDA of up to approximately €100 million for the year ending 31 December 2027, based on an analysis of the information made available to Grünenthal from Bayer and assuming the closing by the end of 2026 or the beginning of 2027, as well as a full-year consolidation.
This acquisition is the latest development in Grünenthal’s M&A strategy, following the successful integration of several important medicines, including the global rights to Nebido™, the rights to Cialis® in Mexico, Brazil, and Colombia, the European rights to Crestor™ and Nexium™, and the global rights to Vimovo™ (ex-US and Japan), Zomig™ (ex-Japan), and Qutenza™. In addition to asset acquisitions, earlier this year, Grünenthal acquired full ownership of Grünenthal Meds, a previously joint venture with Kyowa Kirin International to market its established medicines portfolio, and acquired the US company Valinor Pharma and the product Movantik®. Since 2017, the company has invested around €2.6 billion in successful M&A transactions.
About Stivarga®
Stivarga® is a once-daily, oral prescription medicine for certain advanced cancers. It has treated more than one million patients across more than 90 countries over the past 10 years.
In the EU, Stivarga® is indicated as monotherapy for the treatment of adult patients with metastatic colorectal cancer (mCRC) who have been previously treated with, or are not considered candidates for, available therapies, including fluoropyrimidine-based chemotherapy, an anti-VEGF therapy, and an anti-EGFR therapy, as well as for the treatment of adult patients with unresectable or metastatic gastrointestinal stromal tumor (GIST) who progressed on or are intolerant to prior treatment with imatinib and sunitinib, and for the treatment of adult patients with hepatocellular carcinoma (HCC) who have been previously treated with sorafenib.
In the US, Stivarga® is indicated for the treatment of patients with mCRC who have been previously treated with fluoropyrimidine-, oxaliplatin- and irinotecan-based chemotherapy, an anti-VEGF therapy, and, if RAS wild-type, an anti-EGFR therapy, as well as locally advanced, unresectable, or metastatic GIST who have been previously treated with imatinib mesylate and sunitinib malate, and for HCC who have been previously treated with sorafenib.
About Grünenthal
Grünenthal is a global leader in pain management and related diseases. As a science-based, fully integrated pharmaceutical company, they have a long track record of bringing innovative treatments and state-of-the-art technologies to patients worldwide. Their purpose is to change lives for the better, and innovation is their passion. They focus all their activities and efforts on working towards their vision of a World Free of Pain.
Headquartered in Aachen, Germany, Grünenthal has affiliates in 28 countries across Europe, Latin America, and the US. Their products are
