Novo Nordisk (NVO) announced the expansion of its biopharm business with an agreement to acquire the U.S. and Canadian rights to Macrilen, the first and only FDA-approved oral growth hormone receptor indicated for the diagnosis of Adult Growth Hormone Deficiency, a rare endocrine disorder, from Strongbridge Biopharma (SBBP). Novo Nordisk will pay $145M to Strongbridge as well as tiered royalties related to sales of Macrilen. In addition, Strongbridge’s current field organization will continue to promote Macrilen in the U.S. for up to three-year agreement. Novo Nordisk’s existing biopharm field force will also support the commercialization of Macrilen. As part of the partnership with Strongbridge, Novo Nordisk will acquire newly issued Strongbridge shares representing approximately 10% of the outstanding shares of Strongbridge at a share price of $7 per share, corresponding to an investment of approximately $37M. “The acquisition of Macrilen is in line with the strategy for our biopharm business with growth being driven by both organic and bolt-on initiatives. Macrilen is highly complementary to Norditropin and will allow Novo Nordisk to assist physicians and patients in the diagnosis as well as treatment of patients with growth hormone deficiency,” said Jesper Brandgaard, executive vice president and head of Biopharm. The transaction is expected to close in December 2018 and is subject to U.S. regulatory approval.
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