MW Novo Nordisk strikes $2 billion deal with a Chinese company making a GLP-1 drug
By Steve Goldstein
Novo Nordisk announced Monday a $2 billion deal with a Chinese company making a drug in the same GLP-1 space where the Danish company is currently the leading player.
Novo Nordisk said it's paying $200 million upfront and up to $1.8 billion in milestone payments to United Laboratories International for the right to license a drug, outside of China that is in early-stage development to treat obesity, Type 2 diabetes and other diseases.
The candidate, currently called UBT251, is what's called a triple agonist of the receptors for GLP-1, GIP, and glucagon. In a Phase 1 trial, the highest dose group achieved an average weight loss of 15.1%, compared with 1.5% for the placebo.
Behind the Ozempic and Wegovy drugs to treat diabetes and weight loss, Novo Nordisk became Europe's top company by market cap, though it's now fallen from that perch.
Novo Nordisk shares (DK:NOVO.B) $(NVO)$ fell 3% on Monday and have dropped 18% this year, as the Danish drugmaker's trial of a key next-generation drug disappointed investors.
United Laboratories International shares (HK:3933) rallied 6% in Hong Kong trade, and have gained 35% this year.
-Steve Goldstein
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(END) Dow Jones Newswires
March 24, 2025 06:55 ET (10:55 GMT)
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