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.

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.

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.

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 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.

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.