| News
Sumitovant acquires all shares in Myovant
24.10.2022
Sumitovant is in the process of making Basel-based Myovant Sciences a wholly owned subsidiary by acquiring a 100 percent shareholding in the company for 27 dollars per share. As such, this transaction values the company at 2.9 billion US dollars overall. At present, Sumitovant has a stake of 52 percent in Myovant.

The US biopharmaceutical company Sumitovant, headquartered in New York, is to acquire all remaining shares in the Basel-based firm Myovant Sciences that it does not currently hold for 27 US dollars per share. This agreement has now been struck by Sumitovant Biopharma Ltd with the Japanese parent company Sumitomo Pharma and Myovant Sciences, further details of which can be found in a press release.
In this context, the company as a whole is valued at 2.9 billion US dollars, with the value of this transaction amounting to 1.7 billion US dollars overall. At present, Sumitovant holds 52 percent of the issued and outstanding shares of Myovant.
The transaction looks set to be closed in the first quarter of 2023, subject to the approval of regulatory authorities and Myovant shareholders, who hold a majority of the outstanding shares. Upon completion of the acquisition, Myovant’s shares will no longer be listed on the New York Stock Exchange. Sumitovant and Myovant were both founded as subsidiaries of the parent company Roivant, which has its global headquarters in Basel.
Accelerating Myovant’s product pipeline
The agreement has been approved by the boards of Sumitovant and Sumitomo Pharma in addition to the full Board of Directors of Myovant. The takeover is intended to accelerate the development of Myovant’s product pipeline in the areas of women’s health and prostate cancer.
“We look forward to harnessing the combined strength of our talented teams to bring needed therapies to patients sooner and are confident both Myovant and its employees will benefit from the greater resources Sumitovant can provide to further support business growth and career opportunities overall”, comments Myrtle Potter, CEO of Sumitovant, in the press release.
Share this article
Sign up to receive our newsletter in your inbox.
You may also be interested in
Evolva launches new line for manufacturers of personal care products
Evolva, a manufacturer of active ingredients based in Reinach in the canton of Basel-Landschaft, will be presenting its new product...
Read MoreRecord figure for startups in the Basel Area
Basel Area Business & Innovation has supported a record number of 96 company startups in 2022. The number of settlements...
Read MoreNoema Pharma raises 103 million Swiss francs from investors
Noema Pharma has raised a total of 103 million Swiss francs as part of an oversubscribed Series B financing round....
Read MoreWhy CDMO companies choose the Basel Area as their location
Originally, this article was published by the US magazine Outsourced Pharma under the title "Why Location Matters". The article highlights...
Read MoreBasel still the most attractive small city for business in Europe
As with last year, Basel once again features among the most attractive locations in Europe for investments. It was ranked...
Read MoreAriceum Therapeutics establishes subsidiary in Basel
The German life sciences firm Ariceum Therapeutics has established a subsidiary in Basel. This company has received support from Basel...
Read More