Denmark's Novo Nordisk to buy Emisphere Technologies in US$1.8 billion deal

Denmark's Novo Nordisk to buy Emisphere Technologies in US$1.8 billion deal

Danish diabetes drug maker Novo Nordisk will acquire U.S. Emisphere Technologies, which specialises in developing orally administered versions of drugs, in a deal totalling US$1.8 billion, it said on Friday.

FILE PHOTO: Flags are seen outside Novo Nordisk headquarters in Copenhagen
FILE PHOTO: Flags are seen outside Novo Nordisk headquarters in Copenhagen, Denmark, February 5, 2020. REUTERS/Jacob Gronholt-Pedersen

COPENHAGEN: Danish diabetes drug maker Novo Nordisk will acquire U.S. Emisphere Technologies, which specialises in developing orally administered versions of drugs, in a deal totalling US$1.8 billion, it said on Friday.

Novo Nordisk will buy all outstanding shares in Emisphere at a price of US$1.35 billion, while also taking over royalty obligations to the firms biggest shareholder worth US$450 million, which makes the total acquisition price US$1.8 billion.

"The acquisition of Emisphere provides Novo Nordisk full ownership of the Eligen SNAC technology, which has been successfully used under a licence agreement to develop the first oral biologic, Rybelsus," Chief Scientific Officer Mads Krogsgaard said in a statement.

(Reporting by Nikolaj Skydsgaard; Editing by Edmund Blair)

Source: Reuters

Bookmark