Novo Nordisk to buy Forma Therapeutics in $1.1bn deal

Novo Nordisk said on Thursday that it has agreed to buy US-based Forma Therapeutics in a $1.1bn deal.

Under the terms of the acquisition, Novo Nordisk will pay $20 per share in cash for the clinical stage biopharmaceutical company, which focuses on sickle cell disease (SCD) and rare blood disorders.

The Danish pharmaceutical group said the acquisition of Forma, including its lead development candidate etavopivat, is aligned with its strategy to complement and accelerate its scientific presence and pipeline in haemoglobinopathies, a group of disorders in which there is abnormal production or structure of the haemoglobin protein in the red blood cells.

Ludovic Helfgott, executive vice president and head of Rare Disease at Novo Nordisk, said: "Novo Nordisk has worked for more than 40 years to develop and deliver transformative medicines to patients around the world with rare and devastating diseases. By adding Forma’s differentiated approach to address unmet needs for patients, we are taking a step forward in enhancing our sickle cell disease pipeline.

"We have an ambition to build a leading portfolio with standalone and combination treatments to tackle the complications and underlying causes of sickle cell disease."