Roivant, Pfizer shares rise as Roche agrees to buy immunology company for $7.1 billion

Shares of Roivant Sciences Ltd. ROIV, -1.13% and Pfizer Inc. PFE, -1.73% gained ground premarket on Monday after Roche Holding AG RHHBY, +0.51% agreed to buy immunology company Telavant for $7.1 billion. Roivant owns 75% of Telavant shares, and Pfizer owns the remaining 25%.

The agreement, which includes a $7.1 billion upfront payment and a $150 million near-term milestone payment, also gives Roche an option to collaborate globally with Pfizer on a next-generation antibody that is currently in phase 1 trials, Roche said. Roivant shares gained 8% premarket on Monday, while Pfizer shares gained 1%. Roche’s American depositary receipts were down 0.5% premarket.

Roivant stock soared in late June after the company released data on RVT-3101 in adults with ulcerative colitis, showing the treatment resulted in improved clinical remission of 36% at week 56, versus 29% at week 14.

Switzerland Neuesten Nachrichten, Switzerland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Chevron, Hess, Roivant, Textainer, Microsoft, Alphabet, and More Stock Market MoversChevron will buy Hess in all-stock deal valued at $53 billion, Roche agrees to buy a developer of a drug for people suffering from inflammatory bowel disease...
Herkunft: MarketWatch - 🏆 3. / 97 Weiterlesen »