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's price depends on whether Inversago reaches certain development and sales goals, Novo Nordisk said in a release. Canada-based Inversago develops experimental therapies to treat people with obesity, diabetes and other conditions affecting the body's metabolism. Meanwhile, Novo Nordisk's Wegovy and Ozempic work by mimicking a hormone produced in the gut to suppress a person's appetite. Novo Nordisk intends to further investigate the potential of the oral drug for obesity and obesity-related complications.

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Persons: Novo, Martin Holst Lange, Lars Fruergaard Jorgensen, availabilities Organizations: Novo Nordisk, Inversago Pharma, Novo, Novo Nordisk's Wegovy, Nordisk, Reuters Locations: Danish, Inversago, Canada, U.S