A small deal with a big message

Yesterday Novo Nordisk agreed to purchase Corvidia Therapeutics for $750 million in cash in a deal that could be worth $2.1 billion depending on regulatory and sales milestones achieved. This may not a blockbuster transaction, but it does send a loud message that Novo is beginning to expand beyond diabetes. As we have noted many times we cannot see Novo leaving diabetes as Sanofi seems to be doing. However Novo does see the handwriting on the wall as their core insulin franchises are commoditizing leaving their GLP-1 franchise as the main sales and profit driver.

Unlike their rival . . .

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