Written by Dominic Chopping

Novo Nordisk will acquire Cardiol Pharmaceuticals for up to 1.03 billion euros ($1.11 billion). The WeGoBe maker is strengthening its pipeline of cardiovascular disease drugs and expanding beyond its core diabetes and weight-loss markets.

The Danish pharmaceutical giant has been a big hit with its Wegovy and Ozempic obesity and diabetes treatments. These treatments have not only proven to be highly effective in controlling blood sugar levels and reducing weight in patients, but also provide additional health benefits, such as reducing the risk of stroke and stroke. It also brings. It slows down the progression of heart attacks and kidney disease.

Based on these findings, the company recently announced plans to build out its treatment portfolio, including cardiovascular diseases and emerging therapeutic areas, while strengthening progress in its rare disease pipeline.

“This acquisition is an important step forward in Novo Nordisk’s strategy to establish a presence in the cardiovascular disease space,” the company said in a statement.

Germany-based Cardior Pharmaceuticals is focused on discovering and developing therapies that target RNA, a molecule essential to most biological functions, as a means to prevent, repair and reverse heart disease. Masu.

The company’s lead compound, CDR132L, is designed to arrest and partially reverse heart damage and is currently in Phase 2 clinical development for the treatment of heart failure. The compound is included in the deal, and Novo Nordisk will begin a Phase 2 clinical trial to investigate its use in treating patients with chronic heart failure who have problems with the heart muscle.

The acquisition price includes an upfront payment and additional payments based on certain development and commercial milestones.

The transaction is expected to close in the second quarter of 2024. The funding will be sourced from financial reserves and will not affect Novo Nordisk’s earnings outlook or ongoing share buybacks.

Email Dominic Chopping at dominic.chopping@wsj.com.

(Ended) Dow Jones News

March 25, 2024 07:10 ET (11:10 GMT)

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