Organon Acquires Dermavant from Roivant for Up to $1.2 Billion

The acquisition includes the innovative dermatologic therapy VTAMA, expanding Organon's dermatology portfolio.

Organon will pay $175 million upfront, with additional milestone payments potentially reaching $1.2 billion.
VTAMA cream, approved for plaque psoriasis, is under FDA review for atopic dermatitis treatment.
Psoriasis affects over 8 million Americans and 125 million people worldwide.
The deal is expected to be modestly dilutive to Organon's Adjusted EBITDA in 2025, becoming accretive in 2026.
Organon will assume Dermavant's liabilities and pay tiered royalties on VTAMA's net sales.