"We look forward to deepening our relationship with Roivant, which has a rich development pipeline, technology platforms, and distinctive talents," Sumitomo Dainippon CEO Hiroshi Nomura said.
TOKYO: Japan's Sumitomo Dainippon Pharma Co will pay $3 billion for a 10% stake in Swiss drugmaker Roivant Sciences Ltd and interests in five of its biopharmaceutical businesses, the two companies said on Friday.
The deal, which will open up new drug lines for Sumitomo Dainippon, will also give it the option to acquire interests in an additional six businesses, as well as access to Roivant's technology platforms, they said in a statement.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
