By Colin Kellaher
Organon has agreed to buy medical dermatology company Dermavant Sciences, a majority-owned unit of Roivant Sciences, in a deal worth up to $1.2 billion.
Organon on Wednesday said it will make an up-front payment of $175 million, along with up to $1.025 billion in milestone payments.
Organon, a Jersey City, N.J., healthcare company, said the deal expands its dermatology portfolio with the addition of Vtama, a non-steroidal topical therapy approved for treatment of plaque psoriasis in adults and under FDA review for an additional indication to treat atopic dermatitis.
Organon said it will pay Dermavant's shareholders tiered royalties on sales of Vtama, adding that it will also assume Dermavant liabilities valued at roughly $286 million as of June 30.
The deal is slated to close by the end of the year.
Biopharmaceutical company Roivant said it expects the deal to result in about $500 million in payments and cash savings within the next three years, along with the removal of all debt from its balance sheet.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 18, 2024 08:14 ET (12:14 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。