Roivant offloads biotech stakes in $3B alliance with Japanese pharma
Sumitomo Dainippon Pharma will pay Roivant Sciences $3B for its stake in five of its subsidiaries and take a more than 10% stake in the parent company. Sumitomo Dainippon also gains the option to acquire Roivant’s stake in six more subsidiaries with up to 25 pipeline projects.
Sumitomo Dainippon is looking to replace lost revenue from the looming U.S. patent expiration on its biggest seller, Latuda, which had sales of more than $1.7B in the 2018 fiscal year.
