Novo Nordisk and Akero Therapeutics Inc. (Nasdaq: AKRO) have officially completed the acquisition announced on October 9, 2025, marking a major expansion of Novo Nordisk’s pipeline in metabolic and liver disease therapeutics.
With the deal finalised, Novo Nordisk has acquired all outstanding shares of Akero at USD 54 per share in cash, valuing the transaction at USD 4.7 billion. In addition, shareholders will receive a non-transferable Contingent Value Right (CVR) entitling them to an extra USD 6 per share—worth USD 0.5 billion in total—if Akero’s lead drug candidate, efruxifermin (EFX), secures US regulatory approval for treating compensated cirrhosis due to MASH.
Following the completion, Akero is now a wholly owned subsidiary of Novo Nordisk, and its common stock has been delisted from the Nasdaq Global Select Market.
Strengthening Novo Nordisk’s Metabolic Disease Portfolio
The acquisition deepens Novo Nordisk’s footprint in metabolic disorders at a time when global demand for therapies addressing obesity, diabetes and liver conditions is rapidly expanding.
Akero’s flagship candidate EFX, a Phase 3-stage metabolic therapy, is under evaluation across three major trials:
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SYNCHRONY Histology – for pre-cirrhotic (F2–F3) MASH
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SYNCHRONY Outcomes – for compensated cirrhosis (F4) due to MASH
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SYNCHRONY Real-World – for MASH or MASLD in broader patient populations
These studies build on promising outcomes from earlier Phase 2b trials, including HARMONY, which demonstrated meaningful improvements in fibrosis and MASH resolution.
What Akero Brings to Novo Nordisk
Akero Therapeutics is a clinical-stage biotechnology company focused on transformative treatments for serious metabolic diseases with high unmet needs. With EFX widely regarded as one of the most promising late-stage candidates in the MASH pipeline, the acquisition is expected to bolster Novo Nordisk’s long-term strategy in metabolic therapeutics.
