Roivant’s $9 Billion Sales Forecast Meets Its First Launch Test

Stifel estimates Roivant Sciences could generate about $9 billion in ownership-adjusted sales by 2037, putting a long-range number on the biotech’s growth ambitions. The forecast arrives as the company begins selling its first approved drug, LISRAYA, for dermatomyositis.

The bank initiated coverage of Roivant on September 16 with a Buy rating and a $51 price target. Its sales projection is an analyst estimate, not company guidance or revenue already booked.

The immediate test is LISRAYA, the brand name for brepocitinib. The FDA approved the once-daily pill on August 27, and Roivant said it was commercially available in the United States that day, earlier than its prior end-of-September launch target.

The medicine treats adults with dermatomyositis, a rare autoimmune disease that can cause muscle weakness and skin problems. Patients can obtain it through a limited specialty-pharmacy network, while the company’s support program offers eligible patients help with coverage and financial assistance.

That launch gives investors an early measure of Roivant’s ability to reach doctors and patients, secure insurance coverage, and build demand. The company has not yet reported sales results, so the commercial opportunity still has to show up in prescriptions and revenue.

Brepocitinib could also reach other conditions, but those uses remain under study. Roivant said its Phase 3 trial in non-infectious uveitis was expected to produce topline results in the second half of 2026; studies in cutaneous sarcoidosis and lichen planopilaris are also underway.

Other assets underpin the longer-term forecast. Roivant has reported positive Phase 2 results for mosliciguat in pulmonary hypertension linked to interstitial lung disease, while its subsidiary Immunovant is developing IMVT-1402 for autoimmune diseases.

The near-term evidence to watch is therefore broader than LISRAYA’s launch: clinical updates for brepocitinib and mosliciguat are expected in the second half of 2026. Those results, alongside early commercial uptake, will help show how much of Stifel’s distant sales estimate rests on drugs that can advance beyond forecasts.