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Notably, Roche is taking over Telavant Holdings, a company owned by Roivant and the US Pfizer group. The agreement covers the development, production and marketing rights for the active ingredient RVT-3101 in the United States and Japan.
RVT-3101 is a new antibody, Roche announced Monday. A promising new treatment for patients suffering from inflammatory bowel disease has been developed, according to Roche.
Under the agreement, Roche will pay an upfront purchase price of $7.1 billion and a short-term milestone payment of $150 million. Upon completion of the transaction, Roche will have full rights to further develop, manufacture and commercialize RVT-3101 in the United States and Japan, provided that clinical and regulatory requirements are met. Pfizer has marketing rights outside the United States and Japan.
The transaction is expected to be completed in the fourth quarter of 2023 or the first quarter of 2024, according to the filing. (SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
