entertainment
Roche said Monday it was buying Telavant Holdings for $7.1 billion upfront, picking up a promising experimental therapy for inflammatory bowel diseases.
Telavant is owned by Roivant Sciences, with Pfizer holding a minority stake. The deal will allow Roche to develop the therapy, called RVT-3101, and, pending approval, sell it in the United States and Japan. Pfizer holds the commercial rights in other parts of the world.
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The “Roi” in Roivant stands for “return on investment” and with this deal, the biotech, founded by Republican presidential candidate Vivek Ramaswamy but now run by CEO Matt Gline, certainly delivered. Last December, it essentially acquired RVT-3101 from Pfizer for $45 million and a commitment to invest in the drug’s development. Less than a year later, Roivant flipped the drug to Roche for at least $7.1 billion.
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