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Written by Steve Goldstein
Danish drugmaker Novo Nordisk, whose market capitalization has been inflated by popular weight-loss drugs, announced Monday an acquisition targeting cardiovascular disease.
Novo Nordisk says it will pay up to 1.02 billion euros ($1.1 billion) for Cardiol Pharmaceuticals, a German company developing RNA-targeted therapies to prevent and reverse heart disease. did.
Cardior’s lead compound is in Phase 2 development to treat heart failure in people who have previously had a heart attack. Novo Nordisk announced that it will begin a Phase 2 trial in chronic heart failure patients with cardiac hypertrophy.
“Through internal and external innovation, Novo Nordisk is building a focused and impactful treatment portfolio to address the critical unmet needs that remain in cardiovascular disease, the most common cause of death globally. ”, the company said.
Novo Nordisk Shares (DK:NOVO.B) (NVO) was steady in Copenhagen trading, with the share price up 66% over the past 52 weeks.
Cardiol has several venture capital investors, including Bristol-Myers Squibb (BMY).
-Steve Goldstein
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03-25-24 0649ET
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