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

In this news, we discuss the Denmark’s Novo Nordisk to buy Emisphere Technologies in $1.8 billion deal.

COPENHAGEN (Reuters) – Danish diabetes drug maker Novo Nordisk NOVOb.CO to acquire U.S.-based Emisphere Technologies, which specializes in developing orally-administered drug versions, in deal totaling 1.8 billion dollars, he announced Friday.

Novo Nordisk will purchase all of Emisphere’s outstanding shares for $ 1.35 billion, while assuming royalty obligations to the company’s largest shareholder valued at $ 450 million, which brings the total purchase price to $ 1.8 billion.

“The acquisition of Emisphere provides Novo Nordisk with full ownership of the Eligen SNAC technology, which has been used successfully under a license agreement to develop the first oral biologic, Rybelsus,” said the director scientist Mads Krogsgaard in a statement.

Reporting by Nikolaj Skydsgaard; Editing by Edmund Blair

Original © Thomson Reuters

Originally posted 2020-11-06 09:46:09.

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