🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Novo Nordisk to acquire obesity drug developer Inversago

Published 10/08/2023, 08:56
Updated 10/08/2023, 15:41
© Reuters. FILE PHOTO: A coffee machine featuring Novo Nordisk logo is seen at the company headquarters in Copenhagen, Denmark, February 5, 2020. REUTERS/Jacob Gronholt-Pedersen/File Photo
NOVOb
-

(Reuters) - Danish drug maker Novo Nordisk (CSE:NOVOb) said on Thursday it would acquire Canadian company Inversago Pharma in a $1.07 billion deal including the development of an appetite regulator.

Inversago is a privately owned company which develops therapies pitched at people with obesity, diabetes and metabolic disorders, the Novo Nordisk said in its second-quarter report.

© Reuters. FILE PHOTO: A coffee machine featuring Novo Nordisk logo is seen at the company headquarters in Copenhagen, Denmark, February 5, 2020. REUTERS/Jacob Gronholt-Pedersen/File Photo

Inversago's lead asset is INV-202, a cannabinoid receptor blocker, which has shown weight loss in a phase 1b trial and is now in phase 2 development.

The Wegovy drugmaker said it expects the acquisition to be completed in 2023 provided that unspecified development and commercial milestones are met.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.