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German Authority Gives Go Ahead To Novo Nordisk's Small Bolt On Acquisition As Danish Firm Seeks To Build Heart Drugs Pipeline
Thursday, Germany’s competition authority, Bundeskartellamt, cleared the planned acquisition of Cardior Pharmaceuticals GmbH by Danish pharma giant Novo Nordisk A/S (NYSE:NVO).
Cardior is a biotech company focusing on heart diseases, in the case at hand cardiac insufficiency or heart failure.
The company has not yet offered any approved substances. Cardior’s main development product is an active substance against cardiac insufficiency caused by heart attacks.
In March, Novo Nordisk agreed to acquire Cardior for up to €1.025 billion. The agreement includes Cardior’s lead compound, CDR132L, which is currently in phase 2 clinical development for the treatment of heart failure.
The acquisition ...