Pharmaceutical company Sumitomo Pharma and its subsidiary, Sumitovant Biopharma, agreed to acquire all of the outstanding shares of Myovant Sciences that they do not currently own. This corresponds to a transaction value of $1.7 billion and a total company value of $2.9 billion. Sumitomo Pharma and its subsidiary currently own 51.7 percent of Myovant’s outstanding shares.
Sumitomo is among the top-ten listed pharmaceutical companies in Japan. Sumitovant is a technology-driven biopharmaceutical company accelerating development and commercialization of new potential therapies for patients with rare conditions and other diseases. Myovant Sciences focuses on treatments for conditions including uterine fibroids, endometriosis, prostate cancer and infertility.
The S&C team advising Sumitomo Pharma and Sumitovant Biopharma includes Alison Ressler, Keiji Hatano, Matthew Goodman, Tommy Tsao and Alexander Gregorio. David Spitzer and Eli Dubin are advising on tax matters; Nader Mousavi, Rachel Yu and Elizabeth Cheung are advising on intellectual property matters; Marc Trevino, Tiffany Wooley and Alexander Capogna are advising on employee benefits matters; Matthew Schwartz and Frank Orlich are advising on certain litigation matters; and Juan Rodriguez, Eric Queen, Bradley Smith and Sienna Liu are advising on antitrust matters.
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