All articles tagged with #roivant
Moderna will pay Roivant up to $2.25 billion to settle patent infringement claims over its Covid-19 vaccine, while The Readout highlights Prime Medicine’s gene-therapy work and FDA warnings to telehealth firms over compounded GLP-1s.
On Tuesday, Tesla and UnitedHealth Group stocks fell as Tesla delivered fewer vehicles than expected and UnitedHealth Group faced disappointment over finalized payment rates for Medicare Advantage plans. Meanwhile, Roivant Sciences and Valero Energy stocks rose, with Roivant providing an encouraging update on the development of an eye condition treatment and Valero benefiting from rising oil prices. PVH Corp. and Veeva Systems stocks also experienced significant declines due to disappointing earnings forecasts and the resignation of Veeva Systems' chief financial officer, respectively.
Roivant's JAK/TYK2 inhibitor, brepocitinib, licensed from Pfizer, failed to achieve statistical significance in a Phase II lupus trial, leading to the discontinuation of its development in the condition. The high placebo rate was blamed for the drug's lack of efficacy.
Sanofi has secured a deal worth up to $1.5 billion with Teva for the development and launch of Teva's anti-TL1A antibody. Teva will receive an upfront payment of $500 million and up to $1 billion in development and launch milestones. This deal adds fuel to the competition against Merck and Roivant, who are also developing anti-TL1A treatments.