Novo: It might look like a bad deal
In 2014, Novo Nordisk sold a candidate drug for EUR 2 million and a small batch of shares in the buyer, a French biotech company. One year later, the candidate was offloaded to AstraZeneca in a deal that could total USD 1.3 billion. But Novo is still pleased with the deal, for a number of reasons.
BY BENJAMIN WERNER CHRISTENSEN
It looks like a pretty bad deal and Novo Nordisk admits that – that is, that it looks like a bad deal from an outside perspective. But Novo Nordisk is actually pleased with the transaction which saw the company transferring the candidate drug NKG2A – currently IPH2201 – to former partner Innate Pharma for EUR 2 million, 600,000 shares in Innate Pharma, and potential milestone payments and royalties of sales.
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