Organon pays up to $1.2B to acquire Dermavant and its steroid-free skin cream Vtama

With its latest acquisition, women’s health outfit Organon is bringing its dermatology business to the U.S. with a potential blockbuster in tow.

Organon is set to acquire Roivant’s immuno-dermatology subsidiary Dermavant for up to $1.2 billion, the companies announced Wednesday. Under the terms of the deal—which is expected to close in the fourth quarter—Organon will dish out an upfront payment of $175 million.