Novo’s $1.1B Cardior buy continues expansion into heart disease

Novo Nordisk on Monday announced that it will acquire German biotech Cardior Pharmaceuticals in a bid to boost its cardiovascular disease portfolio and support the pharma’s expansion into heart conditions.

The companies did not reveal what per-share price they settled on but said that the deal has a total value of up to approximately $1.1 billion. The sum includes Novo’s upfront payment for Cardior as well as additional payments, which depend on certain developmental and commercial milestones.