MW Novo Nordisk is paying up to $5.2 billion for a San Francisco biotech working on liver disease
By Steve Goldstein
Novo Nordisk has inked a deal to buy a U.S.-listed biotech.
Novo Nordisk, the Danish drug manufacturer behind the weight-loss and diabetes drug Ozempic and other medications, said it's paying up to $5.2 billion to buy Akero Therapeutics, a biotech company with a drug in a late-stage trial to treat a fatal liver disease.
Terms call for Novo to buy Akero for $4.7 billion, or $54 a share, as well as a contingent-value right worth $500 million, or $6 per share.
Akero shares (AKRO) jumped 19% to $55.27 per share. Novo Nordisk's U.S.-listed shares (NVO) (DK:NOVO.B) slipped 2%.
Akero has a a drug in Phase 3 development for a treatment for metabolic dysfunction-associated steatohepatitis, or MASH.
Novo Nordisk points out that more than 40% of MASH patients also have Type 2 diabetes, and over 80% of MASH patients are overweight or living with obesity.
The Danish company said Akero's drug, which like Ozempic is injected once a week, could be a cornerstone therapy or potentially used with Novo Nordisk's weight-loss drug Wegovy.
Akero said the deal was reached after a comprehensive review by its board.
-Steve Goldstein
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October 09, 2025 06:59 ET (10:59 GMT)
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