Sumitomo Pharma Co. Ltd. announced that it will sell off two more of its subsidiaries, Sumitomo Pharma (China) Co. Ltd. and Sumitomo Pharma Asia Pacific Pte. Ltd. (and their subsidiaries), to Marubeni Global Pharma Corp. April 1, as the Japanese pharma continues restructuring efforts from last year.
Sumitomo Pharma Co. Ltd. announced that it will sell off two more of its subsidiaries, Sumitomo Pharma (China) Co. Ltd. and Sumitomo Pharma Asia Pacific Pte. Ltd. (and their subsidiaries), to Marubeni Global Pharma Corp. April 1, as the Japanese pharma continues restructuring efforts from last year.
Sumitovant Biopharma Ltd., a subsidiary of Sumitomo Pharma Co. Ltd., agreed to acquire Myovant Sciences Ltd. for $27 per share, up from its earlier offer of $22.75 per share. The deal is worth $1.7 billion on a fully diluted basis, with an equity value of about $2.59 billion.
Sumitovant Biopharma Ltd., a subsidiary of Sumitomo Pharma Co. Ltd., agreed to acquire Myovant Sciences Ltd. for $27 per share, up from its earlier offer of $22.75 per share, which Myovant had rebuffed. The deal is worth $1.7 billion on a fully diluted basis, with an equity value of about $2.59 billion.
In what may just be the takeover effort’s first volley, Sumitovant Biopharma Ltd., a subsidiary of Sumitomo Pharma Co. Ltd., made a hefty offer for Myovant Sciences Ltd. – which said no. Shares of Myovant (NASDAQ:MYOV) closed at $24.44, up $6.48, or 36.1% on word of the unsolicited buyout proposal.
In what may just be the takeover effort’s first volley, Sumitovant Biopharma Ltd., a subsidiary of Sumitomo Pharma Co. Ltd., made a hefty offer for Myovant Sciences Ltd. – which said no. Shares of Myovant (NASDAQ:MYOV) closed at $24.44, up $6.48, or 36.1% on word of the unsolicited buyout proposal.
Women now have a new treatment option for dealing with the pain associated with endometriosis with U.S. FDA approval of Myfembree (relugolix/estradiol/norethindrone acetate) for managing moderate to severe pain associated with endometriosis in premenopausal women.
Women now have a new treatment option for dealing with the pain associated with endometriosis with U.S. FDA approval of Myfembree (relugolix/estradiol/norethindrone acetate) for managing moderate to severe pain associated with endometriosis in premenopausal women.
Thanks to Myovant Sciences GmbH’s potential $4.2 billion deal with Pfizer Inc. for recently approved Orgovyx (relugolix) in prostate cancer (PC), more physicians are going to be learning about [the compound] faster,” said chief commercial officer Adele Gulfo. “This is going to create huge demand.”
Following a priority review of Orgovyx (relugolix), an oral hormone therapy developed by Myovant Sciences GmbH, the FDA has approved the medicine for the treatment of adults with advanced prostate cancer. The first success among three indications for which Myovant has developed the gonadotropin-releasing hormone (GnRH) receptor agonist, the green light marks Myovant’s transformation into a commercial-stage company, SVB Leerink analyst Ami Fadia noted. Company shares (NYSE:MYOV) fell 4.5% to $23.61 following the Dec. 18 approval.
