Business

Grünenthal expands into oncology with EUR 375 million Stivarga acquisition from Bayer

Edited by Robert McTiernan··2 min read
Grünenthal expands into oncology with EUR 375 million Stivarga acquisition from Bayer

Privately held, Germany-based pharma company Grünenthal GmbH has agreed to acquire Stivarga (regorafenib), Bayer AG's (XETRA: BAYN) oral multikinase inhibitor approved for certain advanced cancers, for up to EUR 375 million (USD 428 million). The transaction, expected to close by the end of 2026 or early 2027 pending regulatory approvals, marks a move by Grünenthal into anticancer medicines and extends its strategy of acquiring established branded products from large pharmaceutical companies.

Stivarga is a once-daily oral treatment indicated in metastatic colorectal cancer (mCRC), hepatocellular carcinoma (HCC), and gastrointestinal stromal tumors (GIST), in each case following specified prior therapies. The product has treated more than one million patients across more than 90 markets over more than a decade. Grünenthal said loss of exclusivity is expected in 2029 in the EU and 2030 in the US; exclusivity has already expired in China, according to FiercePharma's coverage of the deal.

Grünenthal did not disclose the payment structure behind the transaction's up to EUR 375 million headline value. The company estimates Stivarga could contribute up to approximately EUR 100 million (USD 114 million) to consolidated EBITDA for the year ending December 31, 2027, assuming the transaction closes by the end of 2026 or early 2027 and the product is consolidated for the full year.

The acquisition is the second major asset transfer from Bayer to Grünenthal in four years. In 2022, Grünenthal acquired global rights to Nebido, Bayer's long-acting injectable testosterone product, for up to EUR 500 million. Grünenthal has invested around EUR 2.6 billion in acquisitions since 2017 as it has expanded its portfolio of established medicines across pain and other therapeutic areas.

The company has also expanded through transactions with other large pharmaceutical groups. In 2022, Grünenthal agreed to acquire a portfolio of mature medicines from Kyowa Kirin through a joint venture structure, before taking full ownership of that business in March 2026.

The AllSci BriefFree, systematic R&D and deal news. Daily.

Stivarga operates in increasingly competitive later-line cancer settings. In mCRC, Takeda and Hutchmed's Fruzaqla (fruquintinib) is approved in a similar refractory setting, while treatment sequencing in HCC has shifted substantially with the adoption of immunotherapy-based regimens. In GIST, newer targeted agents including ripretinib have expanded later-line treatment options. With EU and US exclusivity expected to end in 2029 and 2030, respectively, Grünenthal has a relatively defined branded-exclusivity window in which to generate returns from the acquisition.

Grünenthal said the transaction is immediately accretive and that it sees "clear opportunities to maximise the value of the medicine" through its commercial and operational infrastructure, which spans affiliates in 28 countries across Europe, Latin America, and the US.

Access the AllSci platform to explore the science behind the news.

Spot something wrong? Report an issue with this article