Novo Nordisk Strikes Nearly $4 Billion in 2 Deals. Here's What That Means for Investors
The company's search for its next wave of billion-dollar drugs continues.
Overview
Novo Nordisk (NYSE:NVO) is looking to maintain its position in the weight-loss market and one-up its most important competitor, Eli Lilly (NYSE:LLY). To that end, the Denmark-based pharmaceutical giant has developed several promising anti-obesity candidates internally. However, Novo has also splurged quite a bit on licensing deals to beef up its pipeline, and two such recent deals deserve investors' attention.
Image source: The Motley Fool.
On Sept. 24, Novo announced an agreement with Nanexa, a drug delivery company based in Sweden. As part of the deal, Nanexa will license its proprietary PharmaShell long-acting drug-delivery technology platform to Novo for use in up to five of its injectable drugs targeting obesity, type 2 diabetes, and other metabolic conditions.
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Source
Originally published at www.fool.com.