Novo Bets On ‘Chequered’ CB1r Approach In Diabetic Kidney Disease With Inversago Buy

For Up To $1.08bn

 
• By Ayisha Sharma
  
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The Danish firm’s Q2 sales fell short of expectations due to poor rare disease and diabetes performance, but a potentially billion-dollar buy of Inversago stole attention as observers highlighted the historical risks of targeting the cannabinoid-1 receptor.  

paper cutout of kidneys with sugar cubes on them
Diabetes Is The Leading Cause Of Kidney Disease • Source: Shutterstock

Key Takeaways:

  • Q2 sales increased by 32% in constant currencies to total DKK54.3bn ($8.03bn).

Novo Nordisk A/S has plunged into the traditionally challenging cannabinoid-1 (CB1) receptor-targeting space in metabolic diseases with an acquisition of Canadian biotech Inversago Pharma Inc. for up to $1.08bn, the firm revealed during its half-year earnings.

The Danish major’s second-quarter sales increased by 32% in constant currencies to DKK54.3bn ($8.03bn) but missed company consensus of DKK55.37bn...

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