Sumitovant and Sumitomo to Acquire Myovant Sciences for ~$1.7B
Shots:
- Sumitovant will acquire all outstanding shares of Myovant for $27.00/share in cash representing a premium of ~50% to Myovant’s closing share price with a total deal value of $1.7B on a fully diluted basis, and a total company value of $2.9B. The transaction is expected to close in Q1’23
- The agreement combines expertise, platforms & resources to commercialize products in Myovant’s program & advance the development of a robust pipeline for prostate cancer
- The agreement offers Sumitomo access to Myovant's clinical assets and treating infertility in women along with the US FDA-approved drugs for prostate cancer & menstrual bleeding. Myovant will become a wholly owned subsidiary of Sumitovant, Sumitovant will own ~52% of the outstanding shares of the Myovant
Ref: Globenewswire | Image: Myovant
Click here to read the full press release
Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
