Novo Nordisk to buy Akero Therapeutics for $5.2bn

(Sharecast News) - Denmark's Novo Nordisk said on Thursday that it has agreed to buy Akero Therapeutics - a clinical-stage company developing treatments for patients with serious metabolic diseases - for up to $5.2bn. It noted that Akero's fibroblast growth factor 21 (FGF21) analogue efruxifermin (EFX) is a potentially best-in-class treatment for metabolic dysfunction-associated steatohepatitis (MASH).

Novo Nordisk said the deal reflects its long-term strategy to develop innovative and differentiated medicines and treat millions of more people living with diabetes, obesity and their associated comorbidities.

With more than 40% of MASH patients also having type 2 diabetes, and more than 80% of MASH patients being overweight or living with obesity, Novo Nordisk said MASH is closely linked with its own expertise in diabetes and obesity.

President and chief executive Mike Doustdar said: "MASH destroys lives silently - and efruxifermin has the potential to change that by reversing liver damage.

"If approved, we believe it could become a cornerstone therapy, alone or together with Wegovy® (semaglutide), to tackle one of the fastest-growing metabolic diseases of our time. This acquisition embodies Novo Nordisk's relentless ambition to move faster, go further, and ultimately deliver on our commitment to pursue leadership in diabetes, obesity and their associated comorbidities."