By Dominic Chopping


Novo Nordisk is buying Cardior Pharmaceuticals for up to $1.03 billion euros ($1.11 billion) as the Wegovy maker moves to strengthen its pipeline of drugs to treat cardiovascular disease and expand into areas outside of its core diabetes and weight-loss market.

The Danish pharmaceutical giant is enjoying blockbuster success for its Wegovy and Ozempic obesity and diabetes treatments, which aren't only proving highly effective at regulating blood sugar and helping patients lose weight but are also yielding extra health benefits such as cutting the risk of stroke and heart attacks and slowing the progression of kidney disease.

Based on these findings, the company recently unveiled plans to build a portfolio of therapies in areas like cardiovascular diseases and emerging-therapy areas while strengthening its progress in the rare-disease pipeline.

"The acquisition is an important step forward in Novo Nordisk's strategy to establish a presence in cardiovascular disease," it said in a statement.

Germany-based Cardior Pharmaceuticals focuses on the discovery and development of therapies that target RNA--a molecule essential for most biological functions--as a means to prevent, repair and reverse diseases of the heart.

The company's lead compound, CDR132L, is designed to stop and partially reverse heart damage and is currently in phase 2 clinical development for the treatment of heart failure. The compound is included in the deal and Novo Nordisk plans to start a second phase 2 trial to investigate its use to treat chronic heart failure patients suffering from problems with the heart muscle.

The acquisition price includes an upfront payment and additional payments dependant on certain development and commercial milestones.

The deal is expected to close in the second quarter of 2024. It will be funded from financial reserves and won't impact Novo Nordisk's profit guidance or continuing share buyback.


Write to Dominic Chopping at dominic.chopping@wsj.com


(END) Dow Jones Newswires

03-25-24 0710ET