Novo Nordisk Agrees to Buy Cardior for Up to €1 Billion

Bloomberg03-25

Soaring demand for obesity drugs is driving Novo’s dealmakingDanish drugmaker wants to expand its cardiovascular treatmentsNovo Nordisk said it will make an upfront payment for Cardior Pharmaceuticals...

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The biotech’s leading potential treatment is designed to block abnormal levels of a particular microRNA, with the aim to improve the function of the heart in the long term. The compound is currently in the second of three stages of patient trials.Soaring demand worldwide for Novo’s blockbusters Ozempic and Wegovy has turned the company into Europe’s most valuable business. The group is plowing part of its proceeds from the weight-loss frenzy into its portfolio of experimental drugs.Its recent deals have been tilted toward cardiovascular disease, the most common cause of death globally: the Cardior deal is the seventh time recently that Novo has said one of its acquisitions will explicitly target that area.Wegovy recently gained expanded US approval to include reducing the risk for heart attacks and strokes, a move that could further widen use and insurer coverage of the popular anti-obesity medication. 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