Novo Nordisk (NVO) agreed to buy ocedurenone, a drug that treats uncontrolled hypertension and has the potential to be used in cases of cardiovascular and kidney disease, from KBP Biosciences for up to $1.3 billion.
1The acquisition expands Novo Nordisk's portfolio of chronic disease management drugs. “This deal is closely aligned with our strategic focus on expanding from our core in diabetes into other serious chronic diseases, including through novel drug modalities, to help many more patients living with unmet medical needs,” said Novo Nordisk Commercial Strategy & Corporate Affairs Executive Vice President Camilla Sylvest.
Ocedurenone has shown success in treating uncontrolled hypertension and advanced chronic kidney disease in clinical trials, and Novo Nordisk expects to continue clinical trials focused on cardiovascular and kidney disease, the drug maker reported.
“Hypertension is a leading risk factor for cardiovascular events, heart failure, chronic kidney disease, and premature death,” said Novo Nordisk Executive Vice President and Head of Development Martin Holst Lange.
Novo Nordisk indicated that the acquisition is expected to close before the end of 2023 and that the deal would not impact its anticipated profit for the year.
Last week, the pharmaceutical company raised its 2023 outlook, projecting full-year sales will increase 32% to 38%, up from its previous forecast of 27% to 33%. It anticipates operating profit growth of 40% to 46%, compared to its earlier estimate of 31% to 37%. Novo Nordisk primarily credited the positive outlook to high demand for its weight-loss drugs, Ozempic and Wegovy.
2American depositary receipts (ADRs) of Novo Nordisk were 0.8% lower in early trading as of 9:35 a.m. ET on Monday morning, but were up more than 47% year-to-date.
https://www.investopedia.com/novo-nordisk-buys-hypertension-drug-8358335
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