Grünenthal has agreed to acquire Bayer AG’s cancer treatment Stivarga for up to about $430 million, expanding the German drugmaker’s portfolio beyond pain medicines.
The transaction covers Stivarga, or regorafenib, an oral multikinase inhibitor used in certain advanced cancers. Closing remains subject to customary conditions, including regulatory approvals, and is expected by the end of 2026 or early 2027.
Stivarga is approved in more than 90 markets for patients with metastatic colorectal cancer, hepatocellular carcinoma and gastrointestinal stromal tumors. It is indicated for patients previously treated with, or unable to receive, other available therapies.
Grünenthal said the acquisition could generate up to approximately $115 million in positive consolidated EBITDA for the year ending Dec. 31, 2027. The estimate assumes the deal closes at the end of 2026 or beginning of 2027 and that Stivarga is consolidated for the full year.
The company based its estimate on information made available by Bayer. It did not disclose how the potential purchase amount would be structured, including the portion payable at closing and any amount tied to future milestones.
Stivarga is expected to lose exclusivity in the European Union in 2029 and in the United States in 2030, according to Grünenthal. The end of exclusivity could allow competing generic versions to enter the market, potentially affecting revenue and profitability.
The deal would add an established oncology medicine to Grünenthal’s commercial portfolio. Grünenthal said it expects to use its commercial and operating infrastructure to manage and market Stivarga after closing.
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