Novo Nordisk (NVO) is back on the hunt for deals to boost its obesity portfolio after losing U.S. biotech Metsera in a bidding war with Pfizer (PFE) late last year, Bloomberg’s Naomi Kresge and Cynthia Koons report. “We’re in the market for big or small,” Chief Executive Officer Mike Doustdar said in an interview at the JPMorgan Healthcare Conference in San Francisco. “As long as it’s complementary to our own assets, then we can go very big, very big in buying something in, but it has to be worth it and it has to be so much better than whatever we have.” Several names in the space were moving up following the news report, including Viking Therapeutics (VKTX), Terns Pharmaceuticals (TERN), and Structure Therapeutics (GPCR).
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NVO:
- Why GLP-1 Weight-Loss Pills Might Be Great News for Airlines
- Novo Nordisk’s AMAZE 1 Obesity Trial Signals Next Wave in Weight-Loss Pipeline
- Novo Nordisk’s CagriSema Trial Completion: What Investors Should Watch in the Next Phase of the Diabetes and Obesity Race
- BMO Capital Markets Pounds the Table on Eli Lilly Stock (LLY)
- Novo Nordisk (NVO) Is Open to M&A to Bolster Obesity Drug Portfolio