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M&A Deal Summary

Novo Nordisk Acquires Akero Therapeutics

On October 9, 2025, Novo Nordisk acquired life science company Akero Therapeutics for 4.7B USD

Acquisition Highlights
  • This is Novo Nordisk’s 9th transaction in the Life Science sector.
  • This is Novo Nordisk’s largest (disclosed) transaction.
  • This is Novo Nordisk’s 6th transaction in the United States.
  • This is Novo Nordisk’s 1st transaction in California.

M&A Deal Summary
Date 2025-10-09
Target Akero Therapeutics
Sector Life Science
Buyer(s) Novo Nordisk
Deal Type Add-on Acquisition
Deal Value 4.7B USD

Target

Akero Therapeutics

South San Francisco, California, United States
Akero Therapeutics is a clinical-stage company developing transformational treatments for patients with serious metabolic diseases marked by high unmet medical need, including metabolic dysfunction-associated steatohepatitis (MASH). Its lead product candidate, efruxifermin (EFX), is currently being evaluated in three ongoing Phase 3 clinical studies: SYNCHRONY Histology in patients with pre-cirrhotic (F2-F3 fibrosis) MASH, SYNCHRONY Outcomes in patients with compensated cirrhosis (F4) due to MASH, and SYNCHRONY Real-World in patients with MASH or MASLD (metabolic dysfunction-associated steatotic liver disease). The Phase 3 SYNCHRONY program builds on the results of two Phase 2b clinical trials, the HARMONY study in patients with pre-cirrhotic MASH and the SYMMETRY study in patients with compensated cirrhosis due to MASH. Akero Therapeutics is headquartered in South San Francisco.

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Buyer(S) 1

Buyer

Novo Nordisk

Bagsvaerd, Denmark
Category Company
Founded 1923
Sector Life Science
Employees78,387
Revenue 290.4B DKK (2024)
DESCRIPTION
Novo Nordisk office in Zurich, Switzerland.
Novo Nordisk office in Zurich, Switzerland.

Novo Nordisk is a global pharmaceutical company dedicated to improving the lives of individuals affected by diabetes and other serious chronic conditions. Novo Nordisk develops and provides a comprehensive range of treatments, therapies, and medical solutions that help patients manage their health effectively. Novo Nordisk was formed in 1923 and is based in Bagsvaerd, Denmark.

DEAL STATS #
Overall 9 of 9
Sector: Life Science M&A 9 of 9
Type: Add-on Acquisition M&A Deals 9 of 9
State: California M&A 1 of 1
Country: United States M&A 6 of 6
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-25 Cardior

Hannover, Germany

Cardior is a clinical-stage biopharmaceutical company pioneering the discovery and development of RNA-based therapeutics designed to prevent, repair, and reverse diseases of the heart. The company's therapeutic approach uses distinctive non-coding RNAs as an innovative platform for addressing the root causes of cardiac dysfunctions. Cardior was founded in 2016 and is based in Hannover, Germany.

Buy $1.0B
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