Novo Nordisk to Acquire Cardior Pharmaceuticals for Up to €1.025 Billion

Novo Nordisk to Acquire Akero Therapeutics for Up to $5.2 Billion

October 10, 2025

Pharmaceuticals

Akero Therapeutics announced it has entered into a definitive agreement to be acquired by Novo Nordisk A/S in a transaction valued at up to $5.2 billion in cash. Under the terms of the deal, Akero shareholders will receive $54.00 per share at closing plus a non-transferable Contingent Value Right (CVR) that could pay an additional $6.00 per share contingent on full U.S. regulatory approval of efruxifermin (EFX) for compensated cirrhosis associated with MASH.

Novo Nordisk to Acquire Dicerna Pharmaceuticals (GalXC RNAi Platform)

November 18, 2021

Biotechnology

Novo Nordisk entered into a definitive agreement to acquire Dicerna Pharmaceuticals for $38.25 per share in cash, valuing the deal at approximately $3.3 billion. The acquisition expands Novo Nordisk’s RNAi research technology platform, building on a 2019 research collaboration using Dicerna’s GalXC technology.

ANI Pharmaceuticals Acquires Novitium Pharma for $163.5M

March 9, 2021

Pharmaceuticals

ANI Pharmaceuticals completed the acquisition of Novitium Pharma for $163.5 million (including $89.5M cash and $74M equity, plus up to $46.5M in contingent earn-outs), adding a U.S.-based R&D engine and CDMO manufacturing capacity. The deal, financed with a new $300M Term Loan B, a $40M revolver and a $25M PIPE investment from Ampersand Capital Partners, is expected to be immediately accretive and expand ANI's generics, contract manufacturing and 505(b)(2) capabilities.

Bain Capital Invests up to $300M in Cardurion Pharmaceuticals

October 27, 2021

Biotechnology

Cardurion Pharmaceuticals, a clinical‑stage biotechnology company focused on cardiovascular therapeutics, received a private investment of up to $300 million from Bain Capital Life Sciences and Bain Capital Private Equity to advance its PDE9 and CaMKII inhibitor programs and to scale the business. The funding will support a major Phase 2 heart‑failure trial, initiation of first‑in‑human studies, and company growth; Bain Capital will also join Cardurion’s board alongside existing investors Takeda Pharmaceuticals and Polaris Partners.

Merck to Acquire Verona Pharma for Approximately $10 Billion

July 9, 2025

Pharmaceuticals

Merck, through a subsidiary, entered into a definitive agreement to acquire Verona Pharma in a transaction valued at approximately $10 billion (at $107 per ADS). The acquisition is intended to add Ohtuvayre (ensifentrine) to Merck’s cardio-pulmonary pipeline, following FDA approval for COPD in June 2024.

Merck to Acquire Acceleron Pharma Inc for $11.5B

September 30, 2021

Biotechnology

Merck (through a subsidiary) entered into a definitive agreement to acquire Acceleron Pharma Inc for $180 per share in cash, for an approximate total equity value of $11.5 billion. The transaction will be completed via a tender offer followed by a merger, and is expected to close in the fourth quarter of 2021, subject to conditions including regulatory approvals and tender of at least a majority of outstanding shares.