Baker McKenzie has advised Bayer AG on all legal aspects of an agreement to sell the cancer treatment Stivarga® (regorafenib) to Grünenthal. The purchase price amounts to up to EUR 375 million. The transaction is subject to customary closing conditions, including the required regulatory approvals. Closing is expected in late 2026 or early 2027.

Stivarga® is an oral multikinase inhibitor used to treat certain advanced cancers. The medicine is indicated for selected patient groups with metastatic colorectal cancer, gastrointestinal stromal tumors and hepatocellular carcinoma, and is approved and available in more than 90 markets worldwide. Over the past ten years, more than one million patients worldwide have been treated with Stivarga®.

“We are very pleased to have had the opportunity to support Bayer in this significant transaction as part of the implementation of its value-oriented portfolio strategy, and we thank the highly specialized, multidisciplinary in-house team for the trust they placed in us and for their excellent collaboration,” commented Daniel Dehghanian, lead partner for the transaction at Baker McKenzie.

Baker McKenzie has a comprehensive transactional life sciences practice in Germany and regularly advises pharmaceutical, biotechnology and medical technology companies on domestic and cross-border M&A transactions, strategic collaborations, and the acquisition and divestment of products and portfolios. Globally, the Firm is a global transactional leader, with more than 2,500 deal practitioners across 40+ countries advising on complex and cross‑border transactions. With one of the largest Healthcare & Life Sciences teams of any international law firm, the Firm combines deep sector knowledge and a global platform to execute high‑stakes matters at the intersection of innovation, regulation and M&A.

Legal advisor to Bayer AG:
Baker McKenzie

Lead: Corporate/M&A: Daniel Dehghanian (partner, Düsseldorf) Antitrust & Competition: Jan Kresken (partner, Düsseldorf