Roivant Sciences In Talks To Sell Stomach Drug To Roche In More Than $7 Bln Deal : Report

(RTTNews) - Roivant Sciences Ltd. (ROIV) is in talks to sell an experimental drug for a debilitating stomach disease to Roche Holding AG (RHHBY) in a deal that could be valued at more than $7 billion, the Wall Street Journal reported citing people familiar with the matter.

The Journal reported that the deal could be announced "in the coming days."

Roivant's experimental drug, RVT-3101, is under clinical trials for the treatment of moderate-to-severe ulcerative colitis as well as a type of inflammatory bowel disease known as Crohn's disease.

ROIV closed Thursday regular trading at $11.60 up $0.18 or 1.58%. In the after-hours trading the stock further gained $1.35 or 11.64%.