Sumitovant, the US-focused arm of Sumitomo Dainippon Pharma that already owned about 72% of Urovant, agreed to buy the rest at $16.25 a share in cash, a 96% premium. The price values all of Urovant's equity at about $584 million and its enterprise value at about $681 million. Urovant was preparing to launch GEMTESA (vibegron) for overactive bladder. The drug The FDA approved GEMTESA on December 23, 2020, while the buyout was pending. Urovant said it was the first new branded pill for overactive bladder approved in the US since 2012. In December 2024 the FDA also cleared it for men with overactive bladder symptoms who take medicine for an enlarged prostate. Deal details Urovant's shares stopped trading on Nasdaq when the deal closed. Jones Day advised Sumitovant. GEMTESA is now sold by Sumitomo Pharma America, part of what is now called Sumitomo Pharma.
