Novo Nordisk Acquires Cardior Pharmaceuticals for $1.1 Billion

The acquisition aims to bolster Novo Nordisk's cardiovascular medicine portfolio, focusing on heart failure treatment CDR132L.

Novo Nordisk AS has announced the acquisition of Cardior Pharmaceuticals for up to $1.1 billion, aiming to strengthen its cardiovascular medicine portfolio.
The deal is centered around Cardior's leading drug candidate CDR132L, currently in Phase 2 clinical trials for heart failure, with plans for a second Phase 2 trial.
Novo Nordisk, known for its weight-loss drug Wegovy, is expanding its focus from diabetes and obesity treatments to include cardiovascular diseases.
The acquisition is expected to be finalized in the second quarter of 2024 and is financed from Novo Nordisk's financial reserves.
The move comes as Novo Nordisk's shares have surged nearly 70% in the last 12 months, with Wegovy receiving Medicare coverage for reducing the risk of serious heart events.