Novo Nordisk to buy Cardior Pharmaceuticals for up to $1.1 billion

Mar25,2024



Copenhagen: Denmark Novo Nordisk said on Monday that it has agreed to buy Cardio Pharmaceuticals It will cost up to 1.03 billion euros ($1.11 billion) to strengthen it cardiovascular pipeline,
acquisition Its focus on diabetes is in line with the Danish drugmaker's goal of weight loss treatments Including treatments for heart disease.
“By welcoming Cardio as part of Novo Nordisk, we will strengthen our pipeline of projects in cardiovascular disease where we already have ongoing programs in all stages of clinical development,” Novo said in a statement. Are.”
Deal involves Cardior's lead compound cdr132lIt is currently in Phase 2 clinical development for the treatment of heart failure, Novo said.
The transaction price includes an upfront payment and additional payments upon achievement of certain development and commercial milestones, the company said, adding that it will fund the acquisition from financial reserves.



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