Roche, the Basel-based laboratory has reached an agreement to buy Carmot Therapeutics, including three clinical-stage assets for the treatment of obesity and diabetes, for a maximum amount of €2.85 billion
Under the terms of the agreement, Roche will pay $2.7 billion (€2.48 billion) in cash upon closing of the transaction. In this operation, Carmot shareholders will be entitled to receive payments of up to $400 million (€367 million) depending on the achievement of certain milestones.
Closing of the transaction is currently expected to occur during the first quarter of 2024. Upon closing of the transaction, Roche will gain access to Carmot’s existing R&D portfolio, including all clinical and preclinical assets, in addition to incorporating its employees as part of the pharmaceutical division.
Roshe CEO Thomas Schinecker maintains that “obesity is a heterogeneous disease, contributing to many other diseases, which together constitute a significant health burden worldwide.”
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Last October, Roche bought Telavant Holdings, a company owned 75% by Roivant Sciences and 25% by Pfizer, for €6.7 billion
“By combining the Carmot portfolio with programs from our portfolio of pharmaceutical products and our expertise in diagnostics, we aim to improve the level of care and positively impact the lives of patients,” concludes the manager.
A little over a month ago, the Swiss laboratory already acquired Telavant Holdings, a company owned 75% by Roivant Sciences and 25% by Pfizer, for €6.7 billion. All of this in an agreement in which the Swiss multinational will pay a purchase price of €6.7 billion in advance and a short-term milestone payment of €141 million.
Following the closing of the transaction, Roche will obtain the rights to develop, manufacture and market the drug RVT-3101 in the United States and Japan , while in the rest of the world the marketing rights will correspond to Pfizer.
Roche is a multinational pharmaceutical company of Swiss origin, headquartered in Basel, specialized in the research and development of medicines and diagnostic products. The company was established in 1896 by its founder Fritz Hoffmann-La Roche. The pharmaceutical group is operationally present in more than one hundred countries.
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