Brocker.Org: Novo Nordisk in bid for Global Blood Therapeutics

0
45

Danish drugmaker Novo Nordisk has approached Global Blood Therapeutics, a U.S. biotechnology business focused on severe blood disorders, to talk about a possible acquisition, individuals common with the matter mentioned.

The approach will come as Novo Nordisk seeks to shore up declining product sales from its growing older diabetes franchise. With its suite of blood ailment treatments less than progress, Global Blood Therapeutics would be a boon to Novo Nordisk’s portfolio.

Global Blood Therapeutics is now performing with an financial investment bank to review its selections, and there is no certainty that it will enter into negotiations with Novo Nordisk or that it will examine a sale, the individuals mentioned this 7 days.

The resources requested not to be discovered simply because the matter is confidential. Global Blood Therapeutics and Novo Nordisk declined to remark.

Global Blood Therapeutics shares rose as considerably as 32 % on the information, and ended up investing up fifteen % at $32.45 in late early morning investing in New York on Wednesday, giving the San Francisco-based mostly business a sector capitalization of close to $one.4 billion. Novo Nordisk shares ended up down one %.

Novo Nordisk has eschewed acquisitions in the earlier, as it focused on making its sector-leading posture in supplying insulin and other treatments for diabetics.

But the diabetes sector has soured recently, with increasing competitiveness squeezing prices, specially in the United States, prompting the Danish group to alert very last thirty day period that product sales and income might slip this calendar year.

Novo Nordisk’s new CEO Lars Fruergaard Jorgensen, who took more than in January, is less than pressure to find new growth drivers for the group and he however has considerable fiscal firepower for “bolt-on” acquisitions in adjacent treatment places.

Exterior diabetes, Novo Nordisk previously has a sizeable blood products and solutions organization focused on hemophilia. However, its mainstay NovoSeven hemophilia drug could encounter worries with
Roche’s new product or service ACE910 obtaining the possible to erode product sales.

Global Blood Therapeutics, which went general public just two years in the past, would offer you a way diversify the Novo blood organization and just take it into new places, such as sickle mobile ailment and severe situations in which the lungs can not provide suitable oxygen to the blood.

The decline-making U.S. biotechnology company’s most superior compound is GBT440, a once-everyday pill for sickle mobile ailment that is in last-phase Phase III scientific screening.

All around one hundred sixty,000 individuals experience from sickle mobile ailment in the United States and Europe. Present-day treatments price tag close to $200,000 per calendar year in the United States, and do not heal the ailment.

LEAVE A REPLY

*