STAT+: Pharmalittle: Roche buys Roivant bowel disease drug for $7.1 billion; AstraZeneca CEO calls report of imminent retirement ‘fake news’
Roche will pay $7.1 billion for Roivant's Telavant Holdings, picking up a promising experimental therapy for inflammatory bowel diseases.
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AstraZeneca chief executive officer Pascal Soriot maintained that reports of his imminent departure are “fake news” and he feels fit enough to spend another five years at the drugmaker, Bloomberg News reports. “I read these rumors and I can tell you — there’s nothing further from the truth. This is totally made up. Absolutely made up,” he said at the European Society for Medical Oncology meeting in Madrid, where Astra is presenting key studies on lung and breast cancer drugs in development. Soriot, 64, added that he does not intend to retire any time soon and could even see himself finishing his career at the company.
Roche agreed to pay $7.1 billion to acquire Telavant Holdings, picking up a promising experimental therapy for inflammatory bowel diseases, STAT notes. 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 U.S. and Japan. Pfizer holds the commercial rights in other parts of the world. Last December, Roivant essentially acquired the therapy from Pfizer for $45 million and a commitment to invest in the drug’s development. RVT-3101 is an antibody directed at TL1A, a protein that drives inflammation and tissue scarring. Other companies are exploring similar drugs.
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