Novo Nordisk to buyout Emisphere Technologies for $1.8B

• Novo Nordisk (NYSE:NVO) inks agreement to acquire Emisphere Technologies (OTCPK:EMIS), a drug delivery company with technologies, such as the Eligen SNAC, that enable oral formulations of therapeutics in a debt financed transaction.
• Under the terms of the agreement, NVO will acquire all outstanding shares of Emisphere for $1.35B and related Eligen SNAC royalty stream obligations owed to MHR Fund Management for $450M, for a total consideration of $1.8B.
• With these acquisitions, Novo eliminates its future royalty obligations to Emisphere and MHR and obtains full access to the Eligen SNAC technology.
• Novo and Emisphere have collaborated since 2007 and latter's Eligen SNAC technology is used by Novo under an existing licence agreement in the oral formulation of company's GLP-1 receptor agonist semaglutide, which is marketed and sold under the brand name Rybelsus.
• https://seekingalpha.com/news/3632958-novo-nordisk-to-buyout-emisphere-technologies-for-1_8b