Grünenthal Has Acquired Stivarga from Bayer AG
The pharmaceutical company secured the cancer treatment in a deal valued at up to €375 million.
Updated on Sept. 21, 2026 in Healthcare
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Grünenthal has entered into an agreement to acquire the oral multikinase inhibitor Stivarga from Bayer AG. The drug is currently used to treat patients with metastatic colorectal cancer, hepatocellular carcinoma, and gastrointestinal stromal tumours.
Why it matters
The acquisition aligns with Grünenthal's ongoing strategy of purchasing established medications to expand its commercial capabilities and drive growth. It adds a treatment that has already reached over one million patients to the company's portfolio.
Grünenthal has committed up to €375 million for Stivarga, a treatment currently available in more than 90 markets. The company has invested a total of €2.6 billion in M&A transactions since 2017.
The players
Grünenthal
A pharmaceutical company headquartered in Aachen, Germany, that focuses on pain management and specialty medicines.
Bayer AG
A multinational pharmaceutical and life sciences company based in Germany that developed Stivarga.
The details
Stivarga is an oral multikinase inhibitor designed for specific cancer types including metastatic colorectal cancer and hepatocellular carcinoma. The agreement remains subject to customary closing conditions and review by relevant regulatory authorities.
Timeline
Grünenthal began investing in M&A transactions in 2017.
The company achieved €1.8 billion in revenue in 2025.
The acquisition agreement was announced on September 21, 2026.
The deal is expected to close between late 2026 and early 2027.
Market Landscape
This acquisition follows the industry pattern of managing product lifecycles relative to the patent exclusivity expiration of pharmaceutical drugs. Grünenthal is positioning its portfolio ahead of Stivarga's expected loss of exclusivity in the EU in 2029 and the U.S. in 2030.
The acquisition is not expected to immediately change patient access to Stivarga, which is already available in over 90 markets. Any potential future adjustments to distribution or pricing will depend on the finalization of the deal in 2027.
The takeaway
This deal highlights how pharmaceutical firms actively manage their portfolios by acquiring established treatments to maximize their commercial reach. Investors and patients should monitor the transition as the drug nears its future patent expiration dates.
Further reading
For more on industry shifts, visit the Healthcare section.
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