Novo Nordisk To Gain Full Ownership Of Eligen SNAC Technology With Acquisition Of Emisphere

(RTTNews) - Novo Nordisk A/S (NVO) has agreed to acquire Emisphere Technologies Inc., a drug delivery company with proprietary technologies that enable oral formulations of therapeutics. The acquisition provides Novo Nordisk full ownership of the Eligen SNAC technology, which has been used under a licence agreement to develop the first oral biologic, Rybelsus.

Novo Nordisk will acquire all outstanding shares of Emisphere for $1.350 billion. Novo Nordisk will also acquire related Eligen SNAC royalty stream obligations owed to MHR Fund Management LLC, the largest shareholder of Emisphere, for $450 million. The total acquisition price is $1.8 billion.

Novo Nordisk said the transaction will not impact its previously communicated operating profit outlook for 2020 or the ongoing share buyback programme. The acquisition is anticipated to have a net negative impact on operating profit of less than one percent in 2021 and broadly neutral to positive impact in the following years.