A memorandum of understanding is an agreement between two or more parties outlined in a formal document. It is not legally binding but signals the willingness of the parties to move forward with a contract, Investopedia suggests. The MOU can be seen as the starting point for negotiations as it defines the scope and purpose…
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Sumitomo Dainippon Pharma and Roivant Sciences to form strategic alliance
TOKYO: Sumitomo Dainippon Pharma has entered into a Memorandum of Understanding for a strategic alliance with Roivant Sciences Ltd. Roivant is expected to receive a total of US$3 billion (approx. ¥320 billion) from Sumitomo Dainippon Pharma, subject to final agreement between the parties. The Memorandum of Understanding is generally non-binding with the exception of exclusivity…