Danish pharmaceutical giant Novo Nordisk (NOVOb.CO) announced it has reached an agreement to acquire US-based Akero Therapeutics (AKRO.O) for up to $5.2 billion. This move will give Novo access to the experimental liver disease drug efruxifermin.
The company is known as the producer of the obesity drug Wegovy and has undergone a comprehensive restructuring to compete with rivals such as Eli Lilly.
According to the agreement, Novo Nordisk will pay Akero shareholders $54 in cash per share — representing approximately a 16% premium over the previous closing price. Additionally, if the drug receives full approval in the US by June 2031, shareholders will receive an extra $6. Akero shares rose more than 19% following the news. New CEO Mike Doustdar announced a plan to lay off 9,000 people after taking office in July. Doustdar emphasized that the company will shift its focus to next-generation obesity and diabetes drugs and that these drugs could also be used in the treatment of cardiometabolic diseases such as MASH.Akero’s efruxifermin is being tested on patients with liver cirrhosis and advanced-stage MASH. This acquisition is considered a significant step in Novo’s strategy to strengthen its leadership in the field of metabolic diseases.
