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Novo Nordisk, a Danish pharmaceutical firm based in Bagsværd, Denmark, announced on Thursday, Aug. 10, that it will buy privately held the Canadian obesity drug manufacturer Inversago Pharma.
The company said the deal may be worth up to $1.08 billion. Novo Nordisk said there is no exact price yet as of this time because the determination will depend on whether Inversago Pharma is able to achieve certain development and target sales.
CNBC reported that the firms are looking to close the deal before 2023 ends. Novo Nordisk’s decision to acquire the Canadian company is a strategic move to further widen its weight loss portfolio.
The transaction also comes after its Wegovy prescription medication for adults with obesity and Ozempic weight loss injectibles’ popularity took off to great heights. The company is taking advantage of this achievement and aims to keep this momentum going by adding Inversago Pharma and its products into its own weight loss and obesity treatment offering lineup.
“The acquisition of Inversago Pharma will further strengthen our clinical development pipeline in obesity and related disorders,” Novo Nordisk’s executive vice president for development, Martin Holst Lange, commented in a press release. “This promising class of medicine pioneered by the Inversago team could lead to life-changing new treatment options for those living with a serious chronic disease and, in particular, may offer alternative or complementary solutions for people living with obesity.”
Finally, François Ravenelle, Inversago Pharma’s chief executive officer, also said they “are delighted to join forces with a global leader in the obesity and metabolic disorder space. It added that they “believe this combination will help unlock the full medical potential of their CB1 blockers and may one day expand treatment options for people living with metabolic syndrome, obesity, and related complications.”
Photo by: Novo Nordisk Media Library
