Novo Nordisk Will Acquire Obesity Drug Maker for Up to $1.08 Billion

Novo Nordisk on Thursday said it will acquire Inversago Pharma, a privately held obesity drug maker, for up to $1.08 billion to broaden the Danish company’s blockbuster weight loss portfolio.

The deal is Novo Nordisk’s latest attempt to capitalize on the weight loss industry gold rush, which began last year after its Wegovy and Ozempic injections skyrocketed in popularity.

The deal’s price depends on whether Inversago reaches certain development and sales goals, Novo Nordisk said in a release. The companies expect to close the acquisition before the end of the year.

Read the source article at CNBC