Novo Nordisk Acquires Forma Therapeutics for $1.1 billion

BioSelective Capital Investments Acquires BioDuro's Irvine Drug Product Operations to Form Forma Life Sciences

February 4, 2026

Pharmaceuticals

BioSelective Capital Investments, together with Shayan Enterprises, LLC, acquired BioDuro’s drug product development and manufacturing operations in Irvine, California and formed Forma Life Sciences, Inc. The transaction transfers two U.S.-based oral solid dosage development and manufacturing facilities (≈65,000 sq ft and ≈40,000 sq ft) to the new Delaware-held company; BioDuro (an Advent portfolio company) sold the assets.

Novartis Acquires Anthos Therapeutics for Up to $3.1 Billion

February 11, 2025

Biotechnology

Novartis has completed the acquisition of Anthos Therapeutics, a Blackstone Life Sciences–backed clinical-stage biopharmaceutical company, in a deal valued at up to $3.1 billion, including $925 million paid upfront. The acquisition gives Novartis ownership of abelacimab, a Phase 3 factor XI inhibitor being developed to prevent stroke and cancer-associated thrombosis, with remaining milestone payments contingent on regulatory and commercial outcomes.

Novo Nordisk Acquires Dicerna Pharmaceuticals

November 18, 2021

Biotechnology

Novo Nordisk agreed to acquire Dicerna Pharmaceuticals for $38.25 per share, representing an enterprise equity value of approximately $3.3 billion, to expand its RNAi capabilities. The acquisition builds on a 2019 research collaboration and brings Dicerna's GalXC RNAi platform and pipeline into Novo Nordisk to accelerate development of RNAi therapeutics across cardiometabolic, liver and rare disease indications. The tender offer completed in December 2021 and Dicerna is now a wholly owned subsidiary of Novo Nordisk.

Novo Nordisk Acquires Cardior Pharmaceuticals from EQT Life Sciences

March 25, 2024

Biotechnology

Novo Nordisk has agreed to acquire Cardior Pharmaceuticals for up to EUR 1.025 billion, including an upfront payment and contingent development and commercial milestone payments. Cardior, a Hannover-based clinical-stage biotech focused on RNA-targeted therapies for cardiovascular disease, is currently majority-backed by EQT Life Sciences; the deal is expected to close in Q2 2024 subject to regulatory approvals.

Novartis Acquires Regulus Therapeutics

June 25, 2025

Biotechnology

Novartis has completed the acquisition of Regulus Therapeutics, making Regulus an indirect wholly owned subsidiary following a tender offer and merger. The deal secures Regulus' investigational oligonucleotide therapy farabursen for ADPKD and strengthens Novartis' renal disease pipeline.

Novo Holdings Acquires Catalent for $16.5 Billion

December 18, 2024

Healthcare Services

Novo Holdings has completed its previously announced all-cash acquisition of Catalent, Inc. for an enterprise value of approximately $16.5 billion, with Catalent stockholders receiving $63.50 per share. Shortly after closing, Novo Nordisk will acquire three Catalent fill-finish sites (Anagni, Italy; Bloomington, Indiana; and Brussels, Belgium) and related assets from Novo Holdings.