Novo Nordisk to acquire obesity drug maker Inversago Pharma for up to $1 billion
Publishing timestamp: 2023-08-10 11:56:01
Summary
Novo Nordisk is acquiring Inversago Pharma, a privately held obesity drug maker, for up to $1.08 billion. This acquisition will expand Novo Nordisk's weight loss portfolio and capitalize on the growing weight loss industry. Inversago's drugs use a different approach than most treatments, targeting a protein in the brain to regulate metabolism and appetite. Novo Nordisk's current weight loss drugs, Wegovy and Ozempic, mimic a hormone in the gut to suppress appetite. The acquisition aims to strengthen Novo Nordisk's clinical development pipeline and potentially offer new treatment options for obesity and related disorders. Novo Nordisk also reported positive second-quarter results and raised its full-year outlook, but mentioned supply restrictions for some doses of Wegovy in the US due to high demand.
Sentiment: POSITIVE
Tickers: NOVO.B-DK,
Keywords: mergers and acquisitions, health care industry, biotechnology, novo nordisk a/s, breaking news, business news, pharmaceuticals, obesity, weight management, business, biotech and pharmaceuticals,