- Novo Nordisk to acquire obesity drug maker Inversago Pharma for up to $1.08 billion, reinforcing its weight loss portfolio.
- Inversago's pioneering approach blocks a specific brain protein to regulate appetite, differing from Novo Nordisk's current treatments.
- Novo Nordisk also announced robust Q2 results and raised its full-year outlook, though supply restrictions for Wegovy may continue into 2024.
Novo Nordisk, a leading name in the pharmaceutical industry, announced on Thursday an exciting acquisition that's making waves in the business world.
The Danish company is set to acquire Inversago Pharma, a privately held specialist in obesity drug development, for an impressive sum of up to $1.08 billion. The deal is designed to expand Novo Nordisk's already successful weight loss portfolio, adding to their runaway hits Wegovy and Ozempic, which took the weight loss market by storm last year.
This acquisition isn't just about numbers, though. The price tag hinges on Inversago reaching specific development and sales milestones, as revealed by Novo Nordisk in a press release. The parties expect to finalize the transaction by the year's end. With its headquarters in Canada, Inversago stands out for its experimental therapies targeting obesity, diabetes, and metabolism-related conditions. Its drugs work differently than most in the field, blocking a brain protein called cannabinoid receptor type 1 that regulates appetite.
The contrast between Inversago's innovative approach and Novo Nordisk's existing treatments like Wegovy and Ozempic, which suppress appetite by mimicking gut-produced hormones, could be the recipe for something extraordinary. Martin Holst Lange, Novo Nordisk's executive VP for development, stated that this acquisition would bolster their obesity and related disorder pipeline.
Inversago's flagship therapy, an oral drug, has shown promise by helping patients shed an average of 7.7 pounds in just 28 days during a phase one clinical trial. Novo Nordisk sees a bright future for this drug in treating obesity and related complications and plans to dive into further research.
In related news, Novo Nordisk also announced its second-quarter results and increased its full-year outlook due to the rising demand for its obesity and diabetes products. However, CEO Lars Fruergaard Jorgensen warned of continued supply restrictions for some Wegovy doses in the U.S., and availability limits might persist into 2024, underscoring the massive demand for these groundbreaking treatments.
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