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Roivant surges as Vivek Ramaswamy-found firm sells bowel disease drug for $7.1 billion

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Roivant, the drug developer founded by Republican Presidential candidate Vivek Ramaswamy, has sold the rights to its bowel disease treatment for $7.1 billion.

shares surged higher in pre-market trading after the Basel, Switzerland based drugmaker founded by Republican presidential candidate Vivek Ramaswamy agreed to sell the rights to a developing bowel disease drug it owns through a joint venture with Pfizer

Roivant holds around 75% of the joint-venture, with Pfizer owning the remaining 25% through a deal reached in 2022. “It has been a great privilege to work on and meaningfully progress RVT-3101, and we are convinced that Roche will be able to build on these efforts and maximize patient impact with this important program going forward," said Roivant CEO Matt Gline.

 

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