{"id":4979,"date":"2023-05-06T08:02:45","date_gmt":"2023-05-06T12:02:45","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/flying-high-on-obesity-success-novos-appetite-for-deals-grows\/"},"modified":"2023-05-06T08:02:45","modified_gmt":"2023-05-06T12:02:45","slug":"flying-high-on-obesity-success-novos-appetite-for-deals-grows","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=4979","title":{"rendered":"Flying high on obesity success, Novo’s appetite for deals grows"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: A selection of injector pens for the Wegovy weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. REUTERS\/Jim Vondruska\/Illustration\/File Photo<\/span>
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By Natalie Grover<\/p>\n

LONDON (Reuters) – Buoyed by the success of its diabetes and obesity drugs, Novo Nordisk (NYSE:) is on the prowl for partnerships and deals to beef up its pipeline, a senior company executive said on Thursday. <\/p>\n

John McDonald, corporate vice president of global R&D business development, said the Danish drugmaker aims to shed its image of being a company that tends to “window shop”, but hardly ever presses the trigger on deals.<\/p>\n

Its interest is largely in areas it has already invested in, including diabetes, obesity, cardiovascular disease and gene therapies, he said on a panel at the LSX World Congress conference.<\/p>\n

Since launching its popular Wegovy weight-loss drug in the United States in June 2021, Novo’s shares have soared by 140%.<\/p>\n

It overtook Nestle in March to become Europe’s second-most valuable listed company worth almost 340 billion euro ($374.5 billion) after LVMH.<\/p>\n

The company has traditionally taken a wait-and-see approach to deals, often waiting for drugs to have success in later-stage trials before going for a deal.<\/p>\n

“We’re not doing that anymore,” McDonald said. “Instead of waiting and asking for data and trying to see more and more and more, we’ll go earlier.” <\/p>\n

For instance, the company might in future bet on five early-stage studies, rather than one-mid-stage one, he added.<\/p>\n

Since joining the drugmaker in 2018, the company has grown its business development capacity.<\/p>\n

“If you look at some of our competitors, there are hundreds of people in business development … and we probably have 25,” he said. <\/p>\n

“We’re growing, but … we’re at the capacity where we can meet the needs and desires of what we see on the horizon today.” <\/p>\n

In recent years, the company has bought blood disorders-focused Forma Therapeutics for $1.1 billion, diabetes firm Emisphere Technologies for $1.8 billion and cardiovascular disease specialist Corvidia Therapeutics for $725 million. <\/p>\n

($1 = 0.9078 euros) <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: A selection of injector pens for the Wegovy weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. REUTERS\/Jim Vondruska\/Illustration\/File Photo By Natalie Grover LONDON (Reuters) – Buoyed by the success of its diabetes and obesity drugs, Novo Nordisk (NYSE:) is on the prowl for […]<\/p>\n","protected":false},"author":1,"featured_media":2857,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-4979","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nFlying high on obesity success, Novo's appetite for deals grows | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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