On Monday local time, Novo Nordisk, the manufacturer of the "miracle weight loss drug", announced that it had agreed to acquire Ocedurenone, a high blood pressure control drug, from KBP Biosciences for up to US$1.3 billion. This is a continuation of Novo Nordisk's recent series of transactions to strengthen its drug product line. The Danish drugmaker said Ocedurenone is an oral drug currently in Phase III clinical trials for cardiovascular and renal diseases.
(Source: Novo Nordisk)
Martin Holst Lange, executive vice president and head of development at Novo Nordisk, noted that hypertension is a major risk factor for cardiovascular disease, heart failure, chronic kidney disease and premature death. "Given its expected benefit versus risk profile, Ocedurenone has best-in-class potential in the treatment of uncontrolled hypertension and helps address major medical needs in patients with cardiovascular disease and chronic kidney disease."
Novo Nordisk stated that the transaction is closely aligned with our strategic focus to expand beyond our core diabetes into other serious chronic disease areas, including through novel medicine models, and the transaction is expected to close before the end of this year.
The company also said the transaction will not affect its operating profit outlook for 2023 and will fund the acquisition from financial reserves.
The deal is the latest in a series of bolt-on acquisitions for the maker of blockbuster weight-loss drug Wegovy. Nordisk on Friday again raised its sales and profit outlook as demand for its popular weight-loss drug and diabetes treatment surges.
Novo Nordisk's diabetes drug Ozempic and weight-loss drug Wegovy have been reported to be beneficial against heart attacks, strokes and deaths from cardiovascular disease, as well as treating conditions such as addiction and dementia.
Nordisk also said it plans to conduct additional studies of Ocedurenone in other types of heart and kidney disease.
Camilla Sylvest, executive vice president of commercial strategy and corporate affairs at Novo Nordisk, said: "We look forward to adding ocedurenone to our pipeline as it will complement our current development programs in cardiovascular disease and chronic kidney disease."
It is understood that KBP Biosciences is a non-listed company headquartered in Singapore and has offices in Shanghai, China and Jinan, Shandong. KBP Biosciences focuses on the development of innovative small molecule drugs for the treatment of heart and kidney diseases and infectious diseases. Ocedurenone is the company's most advanced innovative drug.
Regarding this transaction, Dr. Zhenhua Huang, founder of KBP Biosciences, said that he is very happy to sell Ocedurenone to Novo Nordisk because the company can unleash the full potential of Ocedurenone and benefit more patients with cardiovascular and renal diseases around the world.