Roche (ROG.CH), is turning a new page in the company’s history after acquiring rights to an obesity therapy from Denmark’s Zealand Pharma (ZEAL.DK).
The deal signals a renewed push by Roche to catch up with obesity market leaders Novo Nordisk (NOVOB.DK) and Eli Lilly (LLY.US).
Under the agreement, Zealand Pharma will receive $1.65 billion upfront with the possibility of milestone payments, bringing the total to $5.3 billion, depending largely on late-stage trials and sales development, Roche said.
Zealand Pharma shares rose 26% following the announcement.
Jefferies analysts wrote in a note that they believe that Zealand Pharma's petrelintide could be better than Novo Nordisk's CagriSema, hence the nearly 4% discount in the company's shares.
Source: Distribution of rates of return in the pharmaceutical sector. Source: xStation
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