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Novo Nordisk to acquire Forma Therapeutics in $1.1. billion deal

Reuters
Updated ·1-min read
FILE PHOTO: The logo of Danish multinational pharmaceutical company Novo Nordisk is pictured on the facade of a production plant in Chartres

(Reuters) -Danish drugmaker Novo Nordisk has agreed to buy Forma Therapeutics in a deal valued at $1.1 billion to expand its blood disorders portfolio, the companies said on Thursday.

"We have an ambition to build a leading portfolio with standalone and combination treatments to tackle the complications and underlying causes of sickle cell disease," Novo Nordisk said in a statement.

Novo Nordisk, best known for its diabetes drugs, said it would pay 20 dollar per share, which is a premium of 92% to the U.S. company's volume-weighted average price per share over the past 30 days.

The Danish group said it expected the deal, which had been unanimously approved by Forma Therapeutic's board, to close in the fourth quarter and it would not impact Novo Nordisk's full-year guidance.

(Reporting by Mrinalika Roy in Bengaluru and Stine Jacobsen in Copenhagen; Editing by Shailesh Kuber and Anna Ringstrom)