Swiss biotech Roivant accepts $3 billion for stake in business
In a bold move to broaden its interests overseas, Japanese drugmaker Sumitomo Dainippon (TYO: 4506) has agreed to pay $3 billion for a chunk of Roivant Sciences’ biopharmaceutical units, plus a 10% share in the rest of the company.
The deal will involve the creation of a novel and broad Alliance to include the transfer of Roivant’s ownership interests in five of its biopharmaceutical companies, with an option to acquire up to six more.
The agreement also provides access to Roivant’s proprietary technology platforms, DrugOme and Digital Innovation, and Sumitomo will take a 10% stake in the rest of Roivant.
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