Grünenthal has agreed to acquire Stivarga (regorafenib), Bayer AG’s oral treatment for certain advanced cancers, for up to €375 million. The transaction remains subject to customary closing conditions, including approval from relevant regulatory authorities, and is expected to close by the end of 2026 or early 2027. Stivarga is approved and available in more than 90 markets for metastatic colorectal cancer, gastrointestinal stromal tumours (GIST) and hepatocellular carcinoma. Grünenthal estimates the medicine could add up to approximately €100 million to consolidated EBITDA for the year ending Dec. 31, 2027, assuming the deal closes by the end of 2026 or early 2027 and is consolidated for a full year. Exclusivity is anticipated to end in 2029 in the European Union and 2030 in the United States. The agreement extends Grünenthal’s strategy of acquiring established medicines and follows roughly €2.6 billion of M&A investment since 2017, including acquisitions involving Nebido, Cialis, Crestor, Nexium, Vimovo, Zomig, Qutenza, Grünenthal Meds, Valinor Pharma and Movantik.