Novo Nordisk on Thursday said it would acquire Akero Therapeutics, the developer of a drug to treat the liver disease known as MASH, in a deal worth up to $5.2 billion.

The acquisition values Akero at $54 per share, or a 16% premium to Wednesday’s closing price, equal to a market value of $4.7 billion. That’s a relatively small takeout premium compared to many biotech acquisitions, although Novo pointed out it’s a 42% premium to Akero’s price in the middle of May, when market speculation about an acquisition caused the stock price to rise.

Akero shareholders will also be eligible for an additional payment of $500 million, or $6 per share, if the company’s drug secures full U.S. approval by the end of June 2031.

To read the rest of this story subscribe to STAT+. Subscribe Log In

See Full Page