Sumitovant Biopharma And Sumitomo Pharma Announce Offer To Acquire Outstanding Shares Of Myovant Sciences
Sumitovant Biopharma And Sumitomo Pharma Announce Offer To Acquire Outstanding Shares Of Myovant Sciences
10/02/22, 11:30 PM
Location
Industry
biopharma
therapeutics
pharmaceutical
biotechnology
health care
pharmaceutical
biotechnology
health care
Sumitovant Biopharma Ltd. ("Sumitovant"), in conjunction with parent company Sumitomo Pharma Co., Ltd. ("Sumitomo Pharma"), announced today it has submitted a non-binding proposal (the "Proposal") to the Audit Committee of the Board of Directors (the "Audit Committee") of Myovant Sciences Ltd. ("Myovant") offering to acquire all outstanding shares of Myovant not already owned by Sumitovant for $22.75 per share in cash. The proposed transaction, if completed, would result in Myovant being delisted from the New York Stock Exchange (NYSE).
Company Info
Company info
Sumitovant is a technology-driven biopharmaceutical company accelerating development and commercialization of new potential therapies for patients with rare conditions and other diseases. Through our proprietary computing and data platforms, scientific expertise and diverse company portfolio, Sumitovant has supported development of multiple FDA-approved products and a robust pipeline of early- through late-stage investigational assets addressing unmet patient needs in pediatrics, urology, oncology, women's health, specialty respiratory and infectious diseases. Sumitovant is a wholly owned subsidiary of Sumitomo Pharma. Please visit our website www.sumitovant.com for more information on Sumitovant and our portfolio.
Company info
Sumitomo Pharma is among the top-ten listed pharmaceutical companies in Japan, operating globally in major pharmaceutical markets, including Japan, the U.S., China, and other Asian countries with about 7,000 employees worldwide. Sumitomo Pharma defines its corporate mission as "To broadly contribute to society through value creation based on innovative research and development activities for the betterment of healthcare and fuller lives of people worldwide." Additional information about Sumitomo Pharma is available through its corporate website at https://www.sumitomo-pharma.com.