Novo Nordisk Has Acquired Embark Biotech And Has Entered A Three-year R&D Pact For Novel Pharmaceuticals To Treat Obesity And Related Co-morbidities, Embark Biotech Will Receive €15M In Upfront Payment, Is Receive Potential Milestones Of Up To €456M
Portfolio Pulse from Benzinga Newsdesk
Novo Nordisk has acquired Embark Biotech and entered a three-year R&D pact to develop novel pharmaceuticals for obesity and related co-morbidities. Embark Biotech will receive €15M upfront and potential milestones of up to €456M.
August 30, 2023 | 12:31 pm
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Novo Nordisk's acquisition of Embark Biotech and the R&D pact could potentially lead to the development of new obesity drugs, which could boost Novo Nordisk's revenues in the future.
The acquisition of Embark Biotech and the R&D pact could potentially lead to the development of new obesity drugs. If successful, this could increase Novo Nordisk's market share in the obesity drug market, leading to increased revenues. Therefore, this news is likely to have a positive impact on Novo Nordisk's stock price in the short term.
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