Novo Nordisk has again bought a weight-loss focused biotech, as the obesity market heats up. Announced Wednesday, the Danish pharma plans to buy Embark Biotech for $16.3 million up front with close to $500 million on the line in milestone payments—Novo’s second obesity-focused acquisition in three weeks.
The Wegovy drugmaker said it expects the acquisition to be completed in 2023 provided that unspecified development and commercial milestones are met.
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