By Dominic Chopping
Novo Nordisk has agreed to acquire a drug being developed to treat uncontrolled hypertension, which could also help cardiovascular and kidney disease, from KBP Biosciences for up to $1.3 billion.
The drug, called Ocedurenone, is currently being examined in a Phase 3 trial with patients who suffer from high blood pressure despite taking blood pressure-lowering treatments, and advanced chronic kidney disease.
Closing of the acquisition is subject to regulatory approvals and other customary conditions and is expected to happen before the end of 2023, it said.
Novo Nordisk will fund the acquisition from financial reserves and the deal won’t affect its full-year operating profit outlook or share buyback program.
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