Grünenthal has agreed to acquire Stivarga, an oral treatment for advanced cancers, from Bayer AG for up to €375 million. The company said the deal aligns with its strategy to purchase established medicines that meet clear medical needs and support long-term growth. The transaction is expected to close by late 2026 or early 2027.
Stivarga is approved in more than 90 markets for metastatic colorectal cancer, hepatocellular carcinoma and gastrointestinal stromal tumours in patients who have already received, or cannot be given, other treatments. Grünenthal said the medicine fits well with its commercial and operational capabilities.
Gabriel Baertschi, CEO, Grünenthal, said: “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 added: “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 maximise the value of the medicine and support Grünenthal’s long-term growth.”
Loss of exclusivity for Stivarga is expected in 2029 in the European Union and 2030 in the United States. Grünenthal estimates the medicine could contribute up to €100 million to consolidated EBITDA for the year ending 31 December 2027, assuming closing at the end of 2026 or early 2027 and full-year consolidation.
The acquisition follows several recent deals that have expanded Grünenthal’s established medicines portfolio. These include global rights to Nebido, rights to Cialis in Mexico, Brazil and Colombia, European rights to Crestor and Nexium, and global rights to Vimovo, Zomig and Qutenza. The company also acquired Grünenthal Meds and US firm Valinor Pharma, adding Movantik to its portfolio.
Grünenthal said it has invested around €2.6 billion in successful M&A transactions since 2017.
