Pharma BD Deal Intelligence
Outcome grade pending — assessed 5 years post-close.
Full analysis, sources & comparables →Organon agreed to buy Dermavant Sciences from Roivant Sciences for up to $1.2 billion, gaining the FDA-approved topical psoriasis drug VTAMA. Dermavant…
Organon said on Wednesday it would acquire Dermavant Sciences from Roivant Sciences in a deal worth up to $1.2 billion to expand its dermatology portfolio.…
FDA approved VTAMA (tapinarof) cream, 1% for atopic dermatitis in adults and pediatric patients 2 years of age and older on December 16, 2024, ahead of the…
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Organon (NYSE: OGN) completed its acquisition of Dermavant Sciences (a Roivant subsidiary) on October 28, 2024, after announcing the definitive agreement on September 18, 2024. Deal value up to $1.2B: $175M upfront, $75M on FDA approval of VTAMA in atopic dermatitis, and up to $950M in commercial milestones, plus tiered royalties. The lead asset is VTAMA (tapinarof) cream, 1%, a first-in-class topical aryl hydrocarbon receptor (AhR) agonist approved for plaque psoriasis. The atopic dermatitis sNDA — the central catalyst of the deal thesis — was approved by the FDA on December 16, 2024 for adults and children 2 years and older (ahead of the extended March 12, 2025 PDUFA date), triggering the $75M AD-approval milestone and giving VTAMA the only non-steroidal topical label spanning both plaque psoriasis and atopic dermatitis.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Organon & Co. / Dermavant Sciences Ltd. (this deal) | 2024 | $1.2B | — |
| Organon & Co. / Forendo Pharma | 2021 | $954M | — |
| Ciba-Geigy AG / Sandoz AG | 1996 | $36.3B | 98 |
| Sanofi SA / Regeneron Pharmaceuticals, Inc. | 2007 | $1.0B | 97 |
| AbbVie Inc. / Boehringer Ingelheim GmbH | 2016 | $2.2B | 95 |
| Amgen Inc. / Immunex Corporation | 2001 | $16.0B | 91 |
| Takeda Pharmaceutical Company Ltd. / Nimbus Lakshmi | 2022 | $6.0B | 82 |
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More: 2024 deals · Dermatology deals