Swiss pharmaceutical company Roche (ROG) is acquiring immunology concern Telavant Holdings from Roivant Sciences (ROIV) and Pfizer (PFE) for $7.1 billion U.S.
Roivant Sciences is currently the majority owner of privately held Telavant Holdings with a 75% stake in the company.
Telavant has a promising drug candidate to treat inflammatory bowel disease in regulatory approvals. The company was formed in 2022 by Roivant and Pfizer to commercialize the drug known as “RVT-3101” within the U.S.
As part of the deal, Roche will take on the rights to develop and commercialize the inflammatory bowel disease drug in the U.S. and Japan, pending regulatory approval.
Pfizer owns the remaining 25% of Telavant and holds commercialization rights outside of the U.S. and Japan.
The takeover agreement also includes an option for Roche to collaborate with Pfizer on a next-generation antibody currently in early-stage trials.
Roivant stock is up 15% on news of the sale of Telavant Holdings. The stock of Roche and Pfizer are trading flat following the deal being made public.
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