Sumitomo Dainippon and Roivant complete $3 billion deal
A new biotech dubbed Sumitovant Biopharma has been founded, following an October 2019 agreement between Japanese drug major Sumitomo Dainippon Pharma (TYO: 4506) and Roivant Sciences.
Sumitovant will operate as a wholly-owned subsidiary of Sumitomo Dainippon, and will be the parent company of five biopharma companies transferred from Roivant.
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