Novo Nordisk acquires Emisphere Technologies in a deal worth $1.8 billion

On Friday, Novo Nordisk (NVO) reported that it had agreed to a $1.8 billion acquisition deal of Emisphere Technologies (EMIS).

The Danish multinational pharmaceutical company said that it aims to broaden its market sales by using pill technology.

 “We have been making injection drugs for a hundred years, but we just have to admit that if we want patients to get treatment quickly in order to optimize the long-term course of the illness, then it requires tablets if possible,” Novo Nordisk’s Chief Scientific Officer Mads Krogsgaard Thomsen said in a statement.

According to the buyout deal, Novo would acquire all Emiphere’s outstanding shares worth $1.35 billion and take over its royalty obligations to its biggest shareholder worth $450 Million.

“By further developing the technology, we hope in the future to produce the medicine cheaper than we do now, thus allowing us to penetrate more markets and give broader access to diabetes drugs,” Thomsen added.

The world’s biggest diabetes medication producer stated that it would offer more of its current and future drugs in a tablet form.