Novo Nordisk Secures $285 Million Biobucks Deal with Ascendis Pharma for Monthly GLP-1 Agonist Development

Deal Value:
Novo Nordisk has signed a $285 million biobucks deal with Ascendis Pharma.

Purpose:
The deal aims to develop a once-monthly GLP-1 agonist using Ascendis Pharma's technology.

Companies Involved:
Novo Nordisk and Ascendis Pharma, both based in Denmark.

Product Context:
The development is related to Wegovy, a product by Novo Nordisk.

Announcement Date:
The deal was announced on November 4, 2024.