Organon to buy skin therapy developer Dermavant for up to $1.2 billion (updated)

Roivant Sciences

18/09/2024 12:55

(Adds details on the deal in paragraphs 2-4)
       Sept 18 (Reuters) - Healthcare company Organon  OGN.N 
said on Wednesday it has agreed to acquire skin therapy
developer Dermavant, a unit of Roivant  ROIV.O , for up to $1.2
billion.
    Organon will make an upfront payment of $175 million, as
well as milestone payments of $75 million and up to $950 million
upon achievement of certain commercial milestones.
     Dermavant's VTAMA psoriasis cream was approved by the U.S. 
Food and Drug Administration in May 2022. Psoriasis is a common
chronic inflammatory skin disease.
    The company expects to close the transaction in the fourth
quarter of this year.

 (Reporting by Sneha  S K; Editing by Vijay Kishore)
 ((Sneha.SK@thomsonreuters.com;))