Novo Nordisk to acquire obesity drug maker Inversago Pharma for up to $1 billion
Summary
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 companys blockbuster weight loss portfolio. The deal is Novo Nordisks latest attempt to capitalize on the weight loss industry gold rush, which began last year after its Wegovy and Ozempic injections skyrocketed in popularity. Canada-based Inversago develops experimental therapies to treat people with obesity, diabetes and other conditions affecting the bodys metabolism. They block a protein in the brain called cannabinoid receptor type 1, which plays a role in metabolism and regulating a persons appetite. Meanwhile, Novo Nordisks Wegovy and Ozempic work by mimicking a hormone produced in the gut to suppress a persons appetite.