Shares of Roivant, which owns 86% of Dermavant as of March 31, 2024, and was founded by former Republican presidential candidate Vivek Ramaswamy, were up 1.7% at $12.26 in early trading. However, Organon was down 1.4%. Dermavant's Vtama cream, approved by ...

The deal hands Organon a psoriasis and eczema cream called Vtama, while Roivant will get more cash to fund its R&D plans.

Organon has agreed to buy medical dermatology company Dermavant Sciences, a majority-owned unit of Roivant Sciences, in a deal worth up to $1.2 billion. Organon on Wednesday said it will make an up-front payment of $175 million, along with up to $1.025 billion in milestone payments.