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Sumitomo Dainippon Pharma to give $3 billion for 10% in Roivant

Christian Fernsby ▼ | September 6, 2019
Japan'sSumitomo 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.
Sumitomo Dainippon Pharma
Acquisition   Sumitomo Dainippon Pharma
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.

Topics: Sumitomo Dainippon Pharma Roivant

"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 in the statement.

A fifth Roivant business unit will also be transferred before the deal's conclusion, the two companies said.