Roivant family rises as Japanese pharma firm buys stake in firm

Sio Gene Therapies

06/09/2019 13:47

** Myovant Sciences Ltd  MYOV.N  up 11.3%, Axovant Gene
Therapies Ltd's  AXGT.O  up ~9% and Urovant Sciences  UROV.O  up
6% premarket as a Japanese pharma firm buys a stake in their
biggest shareholder Roivant Sciences 
    ** Sumitomo Dainippon Pharma Co  4506.T  to pay $3 bln for
10% stake in Swiss drugmaker Roivant Sciences and interests in
five of its biopharma businesses  urn:newsml:reuters.com:*:nL3N25X1GP
    ** The deal, which comes Sumitomo's schizophrenia drug is
due to lose U.S. market exclusivity in 2023, will also give it
the option to acquire interests in an additional six businesses,
and access to Roivant's technology platforms
    ** Up to Thursday's close, AXGT stock had fallen 11.5% YTD
and MYOV 51%, while UROV had risen 42.6% in the same period

 (Reporting by Tamara Mathias in Bengaluru)
 ((Tamara.Mathias@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 1208;))