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Vivek Ramaswamy on Becoming CEO of $3B Public Company, Stock Dropping 75% in 1 Day (Part 3)
Posted
May 21, 2024
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58,304
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May 21, 2024
58,304
948
254
2.06%
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In 2014, Vivek Ramaswamy founded Roivant Sciences with a vision to disrupt Big Pharma. Raising $100 million initially and later securing $360 million for its subsidiary, Axovant, Ramaswamy implemented a novel business model. Roivant aimed to operate with greater efficiency by focusing on neglected areas in drug development and offering scientists equity stakes in their projects, incentivizing faster and riskier innovation. Roivant acted like a parent company, creating multiple 'Vants' such as Axovant, Myovant, and Dermavant, each functioning semi-independently with their project-specific teams and funding. By 2017, Axovant's IPO valued the company at nearly $3 billion. However, a clinical trial failure of its Alzheimer's drug, intepirdine, caused the stock to plummet by 75% in one day. Ramaswamy remained unfazed, emphasizing that the biotech industry thrives on taking calculated risks that can lead to significant advancements or failures. Despite setbacks, Roivant flourished. Several 'Vants' were later acquired for billions.
Check out Vivek Rameswamy's channel at
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