Swiss pharma giant Roche agrees $7.1 billion deal to buy Telavant Holdings

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A photo showing the logo of Swiss pharmaceutical giant Roche in Basel.

SEBASTIEN BOZON | AFP | Getty Images

Swiss health care company Roche announced it would acquire Telavant Holdings Monday, in a deal worth $7.1 billion.

Telavant creates drugs for people suffering from inflammatory and fibrotic diseases, and is in the process of developing a "promising new therapy" for patients with Crohn's disease, Roche said in a press release.

This is a breaking news story, please check back later for more.

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