Bayer Bets on a Decade of Crop Science Blockbusters While Courts and Dealmaking Reshape the Story

Bayer plans ten crop products with EUR 500M peak sales each, sells cancer drug Stivarga to Grünenthal for up to EUR 375M, and awaits a Roundup settlement ruling.

Bayer has laid out an ambitious growth blueprint for its agricultural division, targeting ten new products over the next ten years, each carrying peak sales potential of at least EUR 500 million. The Leverkusen-based group framed the plan as a blockbuster launch cycle for Crop Science, even as it simultaneously trims its pharmaceutical portfolio and works through legacy legal exposure in the United States.

Two of those pipeline candidates are already past the drawing board. Plenexos and the Preceon Smart Corn System have entered commercialization, with management counting on technology-driven farming approaches and novel active ingredients to restore momentum that had slipped in the segment.

A €375 Million Exit From Mature Pharma

On the other side of the ledger, Bayer is shedding an established oncology asset to free up capital and shore up its balance sheet. As reported in the media, the company agreed on Monday to sell the cancer drug Stivarga, whose active ingredient is regorafenib, to Grünenthal for a total consideration of up to EUR 375 million.

The deal closes the book on a product whose best days were behind it. Stivarga revenue has been sliding for years: after EUR 463 million in 2024, sales fell to EUR 338 million in 2025, and the first half of 2026 brought in EUR 148 million. The transaction is subject to customary closing conditions and regulatory clearances, with completion expected in late 2026 or early 2027.

The move reorders priorities within the medicines division, shifting the operational focus toward newer growth drivers and regulatory milestones. In the U.S., one approval now stands as the first new treatment option for its indication in three decades.

Leadership Continuity Alongside the Portfolio Shake-Up

Bayer's executive floor saw a change of its own during this stretch. Judith Hartmann took over as CFO, succeeding Wolfgang Nickl, who stepped down from the management board effective May 31, 2026.

Balance Sheet Engineering: Apollo, KKR and a €2 Billion Hybrid

The product initiatives sit alongside a series of strategic measures aimed at stabilizing the company's capital structure. Through a partnership with funds managed by Apollo and KKR, Bayer received EUR 3 billion in equity for its long-acting reversible contraceptive business, a unit where the group retains both majority ownership and operational control.

Bayer also placed two hybrid bonds totaling EUR 2 billion with a 30-year maturity, lifting its total outstanding hybrid bond volume to EUR 6.55 billion.

Roundup Settlement Awaits a Judge's Signature

Legal legacy issues in the U.S. are also moving toward resolution. A hearing on approval of the USD 7.25 billion settlement covering Roundup claims took place roughly two weeks ago before the Missouri Circuit Court, seeking final sign-off on the collective agreement. A judicial decision is still pending.

Since that hearing, Bayer's stock has gained 3.0 percent.

Shares Hold Their Year-to-Date Gains

Market participants have greeted the combination of legal de-escalation and strategic refocusing with approval. Bayer shares closed Friday at EUR 50.20, giving the stock a gain of 36 percent since the start of the year. With a market capitalization of EUR 48.51 billion, the DAX-listed group is navigating calmer waters once again — though the execution of its portfolio measures and the forthcoming U.S. court rulings are likely to shape its valuation from here.