Myovant Draws Notice as Next Buyout Target in Ramaswamy’s Empire

Shares of Myovant Sciences Ltd. are rallying amid speculation that it will be the next one of Roivant Sciences Ltd.’s biotech spinoffs to be bought by a Japanese partner.

The stock surged the most since June after another company spun off from Roivant was absorbed by Sumitomo Dainippon Pharma Co. The Tokyo-based firm is buying the remaining shares of Urovant Sciences Ltd. it didn’t already own in a $584 million deal one month ahead of a key regulatory decision for Urovant’s first marketed drug, vibegron, to treat a bladder disorder.

Urovant and Myovant are among a handful of spinoffs from ...