Roche to acquire Telavant

Wall Street Breakfast

Seeking Alpha

Business News, News, Business, Investing

4.1 • 1K Ratings

🗓️ 23 October 2023

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

Roche (RHHBY) to acquire Telavant (ROIV) (PFE) for $7.1B, adds new bowel disease therapy to pipeline. (00:22) Stonepeak agrees to buy shipping-container firm Textainer (TGH) for $50/share (update). (01:23) Japan antitrust watchdog to investigate Google (GOOG) (GOOGL) over search dominance - report. (02:32)

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Transcript

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0:00.0	Welcome to Seeking Alpha's Wall Street breakfast, where we cover the top news for investors every morning.
0:07.0	Good morning. Today is Monday, October 23rd, and I'm your host Julie Morgan.
0:12.0	Roche is buying Televant.
0:14.0	Stone Peak agrees to purchase Teaneer,
0:17.0	and Google is reportedly under investigation in Japan.
0:21.0	Royvent Sciences said Monday that Roche will acquire Televent holdings.
0:27.0	Televent is developing a new treatment for inflammatory bowel diseases.
0:31.0	The deal is for 7.1 billion dollars up front and a near-term
0:35.3	milestone payment of $150 million. The deal includes the development,
0:40.4	manufacturing, and commercialization rights in the US and Japan for a new therapy
0:45.5	that is being tested to treat inflammatory bowel disease, including ulcerative colitis and
0:51.6	Crohn's disease.
0:53.2	Since the antibody targets both inflammation and fibrosis,
0:57.2	it has the potential to be applied in multiple other diseases.
1:01.1	Televent was formed by Royvent and Pfizer to develop and
1:04.8	commercialize the treatment in the US and Japan.
1:08.3	Ravent owns a 75% stake in the company while Pfizer owns 25%. The deal which is subject to a
1:15.6	waiting period is expected to take place in Q4 of 2023 or Q1 of 2024.
1:22.1	And more merger Monday news. or Q1 of 2024.
1:23.2	And more merger Monday news for you today.
1:26.1	Infrastructure Fund Stone Peak has agreed to purchase Textainer Group for $2.1 billion dollars.
1:33.0	Textainer is a company that leases shipping containers.
	...

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