Novo Nordisk Bets $1.1 Billion on Cardior's Heart Drugs to Diversify and Tap into Lucrative Cardio Market
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Novo Nordisk is acquiring Cardior Pharmaceuticals for $1.1 billion to diversify into treating cardiovascular diseases, a lucrative $84 billion market by 2032.
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Cardior's lead drug candidate CDR132L is in phase 2 trials for helping heart attack recovery and phase 1 for heart failure.
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The acquisition gives Novo Nordisk a potential new blockbuster drug before the end of the decade.
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Wegovy's recent FDA approval to reduce cardiovascular disease risk presents an opportunity to combine it with Cardior's assets for a superior efficacy product.
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Despite risks of clinical trial failures, the Cardior acquisition has more potential rewards than risks for Novo Nordisk shareholders.