By Shares of Roivant Sciences Ltd. saw a significant surge during the extended session on Thursday, fueled by reports of a potential acquisition by Roche Holding. After a 1.6% gain in regular trading to close at $11.60, Roivant shares skyrocketed by 10% after hours.
According to insiders who wished to remain anonymous, Roivant is in advanced negotiations with Roche to sell its promising treatment candidate for ulcerative colitis and Crohn’s disease. The rumored deal is said to be valued at over $7 billion, an amount close to Roivant’s market cap of $8.9 billion as reported by FactSet data.
Although no official statement has been released, the Wall Street Journal predicts that an announcement regarding the acquisition could come “in the coming days.” It is worth noting that in December, Roivant Sciences and Pfizer Inc. established a joint subsidiary named RVT-3101, dedicated to commercializing the same experimental drug.Pfizer currently holds a 25% stake in the subsidiary.
This potential acquisition serves as a significant milestone for Roivant Sciences and demonstrates the strong interest from industry leaders in their innovative drug development endeavors.
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