"Novo Nordisk said on Thursday it would buy U.S.-based Akero Therapeutics for up to $5.2 billion to add its promising experimental liver disease drug, in the first major deal by the Danish drugmaker's new CEO to boost growth. The deal underscores new Novo Nordisk CEO Mike Doustdar's efforts to revive sales growth and fend off intense competition from U.S. rival Eli Lilly."
"Efruxifermin could be a potential breakthrough in treatment of fatty liver disease and become a "cornerstone" treatment either on its own or in combination with Wegovy, Doustdar said in a statement on Thursday. Under the deal, Novo would pay Akero shareholders $54 per share upfront in cash, which represents a premium of about 16.2% to Akero's last close of $46.49 on Wednesday."
Novo Nordisk agreed to buy Akero Therapeutics for up to $5.2 billion to acquire efruxifermin, an experimental drug for metabolic dysfunction-associated steatohepatitis (MASH) and cirrhosis. The acquisition aims to strengthen growth under new CEO Mike Doustdar and respond to competition from Eli Lilly. Akero is testing efruxifermin in a late-stage trial for patients with severe liver scarring. Novo will pay $54 per share upfront and an additional $6 per share contingent on full U.S. approval by June 30, 2031. Akero shares rose about 19% premarket while Novo’s Denmark-listed shares fell nearly 2%.
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