Novo Nordisk Acquires Mid-Stage Heart Failure Biotech Cardior for Up to $1.1 Billion

1. Novo Nordisk is set to purchase mid-stage heart failure biotech company Cardior Pharmaceuticals for an amount of up to $1.1 billion.
2. This acquisition comes shortly after Novo Nordisk received FDA approval for its weight management treatment Wegovy for cardiovascular disease indications.
3. The deal reflects Novo Nordisk's expansion activity within the pharmaceutical industry.
4. The announcement was made public around March 25, 2024.