Swiss medicine giant Roche to buy Telavant for $7.1B

By Gokhan Ergocun

ISTANBUL (AA) - Swiss pharma giant Roche on Monday said it will buy Telavant, developer of a new treatment for inflammatory bowel diseases, in a $7.1 billion deal from Roivant Holdings and Pfizer.

The agreement includes the development, manufacturing and commercialization rights in the US and Japan for RVT-3101, an experimental drug to treat inflammatory bowel disease such as ulcerative colitis and Crohn’s disease.

Inflammatory bowel disease is a group of chronic gastrointestinal disorders with almost 8 million people diagnosed worldwide, and 80% of all individuals not experiencing lasting remission, Roche said.

"Given the antibody’s novel mode of action targeting both inflammation and fibrosis, it has potential to be applied in multiple other diseases," it added.

“We strongly believe this novel TL1A directed antibody has the transformational potential to make a significant difference for patients living with inflammatory bowel disease and potentially other diseases,” said Roche CEO Thomas Schinecker.

“We are excited to add this promising new therapy in development to our portfolio and to make it available to patients as quickly as possible."

Roche was founded in 1896 in Basel, Switzerland.