Novo Nordisk, maker of the sought-after weight-loss drug Wegovy, is reportedly set to acquire Cardior Pharmaceuticals, a German drug company, for up to €1.025 billion ($1.11 billion).
The acquisition deal is seen as part of the Danish pharma major’s plans to expand big into the cardiovascular segment.
The deal includes a compound Cardior, currently in Phase 2 of clinical development for heart failure, identified as CDR132L, the companies announced on Monday, according to media reports.
“By welcoming Cardior as a part of Novo Nordisk, we will strengthen our pipeline of projects in cardiovascular disease where we already have ongoing programmes across all phases of clinical development,” said Martin Holst Lange, executive vice president for Development at Novo Nordisk.
“We have been impressed by the scientific work carried out by the Cardior team, especially on CDR132L, which has a distinctive mode of action and potential to become a first-in-class therapy designed to halt or partially reverse the course of disease for people living with heart failure,” Holst Lange said in a press release.
Novo Nordisk’s drug trial timeline
Novo Nordisk plans to start a second Phase 2 clinical trial for the drug, and said the acquisition should be finalised in the second quarter of 2024.
The Denmark-based drugmaker has seen its shares and revenue grow significantly since its weight-loss drug Wegovy received the US Food and Drug Administration (FDA) approval in June 2021, and demand has soared in the last year.
The company has also reportedly received promising early results with another weight-loss drug, with a Phase 2 study planned to begin later this year.
Wegovy has also shown positive effects for things like reducing risk of heart attacks.
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