Novo Nordisk agrees to buy Akero Therapeutics for up to $5.2B to get efruxifermin

Novo Nordisk/Efruxifermin

Novo Nordisk agreed to acquire Akero for $54 a share in cash, about $4.7B, plus $6 a share (about $0.5B) if efruxifermin wins US approval for compensated cirrhosis due to MASH. The deal gives Novo a late-stage liver drug that works differently from its GLP-1 medicines. CEO Mike Doustdar called it a potential cornerstone therapy for a fast-growing metabolic disease.

• $4.7B upfront plus a $0.5B contingent payment tied to approval in cirrhosis.
• Efruxifermin is in three Phase 3 SYNCHRONY trials with about 3,500 participants.
• Trials cover pre-cirrhotic MASH (F2-F3), compensated cirrhosis (F4) and a real-world safety study (F1-F4).
• Closing was expected around the end of 2025.