Novo Nordisk (CSE:NOVOb) (NYSE:NVO) shares slumped Wednesday after Roche (SIX:ROG) struck a $5.3 billion deal to acquire rights to an obesity treatment from Denmark’s Zealand Pharma A/S (CSE:ZELA).

The two companies will work together on Zealand’s amylin analogue petrelintide as a monotherapy and in combination therapies.

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The agreement covering the compound petrelintide, announced by Roche on Wednesday, marks renewed efforts to catch up with weight-loss market leaders Novo Nordisk and Eli Lilly .

Swiss drugmaker Roche on Wednesday announced a major deal in the weight-loss category, agreeing to pay up to $5.3 billion to ...

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Roche has signed the biggest-ever obesity drug deal with a $5.3bn licensing agreement for a next-generation treatment from ...

Roche Holding AG licensed a new weight-loss drug from Zealand Pharma A/S for as much as $5.3 billion, bolstering the Swiss drugmaker’s effort to get into a hot market dominated by Novo Nordisk A/S and ...

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