September 11, 2023
M&A | Tea Leaves
  • Danish drugmaker Novo Nordisk has agreed to buy Inversago Pharma, a Montreal-based developer of anti-obesity drugs, for upwards of $1.1 billion in cash. Novo isn’t content to rest on its weight loss laurels, despite the popularity of its Ozempic and Wegovy products. Inversago uses a different technique than Novo’s existing blockbusters by instead targeting CB1 receptors. Its lead candidate has focused on diabetic kidney disease, but Novo’s announcement highlights the obesity potential. (Articles here and here)