Novo Nordisk not currently in a position to pursue large-scale M&A, CEO says

After a twelvemonth astatine the helm, Novo Nordisk's CEO Maziar Mike Doustdar's task of closing the spread to pacesetter Eli Lilly doesn't look to beryllium getting immoderate easier.

Doustdar joined Novo astatine the tallness of spiralling erosion to rivals successful the obesity and benignant 2 diabetes marketplace segments. While the Danish drugmaker has since gained support for oral Wegovy, a cause that acceptable a record-breaking gait for a glucagon-like peptide-1 receptor agonist (GLP-1RA) astatine launch, different pipeline products person had mixed objective results. Earlier this week, cardiovascular illness cause ziltivekimab failed a Phase III trial, portion CagriSema fell abbreviated successful a non-inferiority proceedings comparing it to Lilly's tirzepatide.

Coupled with ongoing income decline, dealmaking presents an evident avenue successful which to boost pipeline offerings. Novo has already said it is actively targeting bolt-on acquisitions, with Doustdar reiterating during the Q2 net telephone that large-scale, transformative deals are inactive a mode off.

"I'm precise arrogant of our interior R&D and pipeline, but nary institution has a monopoly connected bully ideas. I've besides said we are successful each information country to effort and spot who other has a amended idea, who other tin springiness america assets that we tin bolt on, and complement what [our interior R&D teams] are doing," Doustdar said.

"I'm a idiosyncratic who ne'er starts with a nary to 1 time [being capable to behaviour transformative M&A], but you person to beryllium successful a precise antithetic concern than Novo Nordisk is successful today," helium added.

Novo bought metabolic dysfunction-associated steatohepatitis (MASH) specializer Akero Therapeutics for $5.2bn successful October 2025. However, since missing retired to Pfizer connected the $10bn acquisition of long-lasting GLP-1RA developer Metsera, Novo has been comparatively quiescent successful the dealmaking space.

Q2 met with lacklustre effect

Novo reported a mixed Q2, with adjusted income beating statement but Wegovy (semaglutide) pill show falling short.

The company's quarterly reported income accrued by 3%, with maturation negatively impacted by a US cause pricing rebate reversal, though adjusted income accrued by 7%.

Revenue was driven by measurement maturation successful the company's GLP-1RA. Novo's Wegovy pill had full play US prescriptions exceeding 265,000 arsenic of mid-July. On the net call, James Millar, enforcement VP of US operations, stated that determination are much than 5 cardinal prescriptions connected a cumulative basis.

Novo is relying connected the pill to span the spread to Eli Lilly, which has go the ascendant drugmaker successful the obesity and benignant 2 diabetes markets.