BUZZ-Roivant rises as Organon agrees to buy its unit for up to $1.2 billion

-2.58%

+3.56%

-0.51%

-1.07%

-1.69%

Organon & Co. Common Stock OGN	7.17	-2.58%
Roivant Sciences Ltd Ordinary Shares ROIV	22.10	+3.56%
Dow Jones Industrial Average DJI	48458.05	-0.51%
S&P 500 index SPX	6827.41	-1.07%
NASDAQ IXIC	23195.17	-1.69%

** Shares of Roivant Sciences ROIV.O gain 2.5% to $12.35 premarket

** Healthcare company Organon OGN.N says it has agreed to buy skin therapy developer Dermavant, a unit of Roivant, for up to $1.2 billion

** The deal gives OGN access to Dermavant's psoriasis cream, VTAMA, approved by the U.S. FDA in May 2022

** OGN to make an upfront payment of $175 million, as well as milestone payments of up to $950 million as part of the deal

** OGN expects to close the transaction in Q4 this year

** Up to last close, ROIV shares up 7.3% YTD

(Reporting by Mariam Sunny in Bengaluru)

((Mariam.ESunny@thomsonreuters.com;))

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