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.
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