Novo Nordisk completes $4.7 billion acquisition of Akero Therapeutics

Novo Nordisk completed its acquisition of Akero Therapeutics Inc. (NASDAQ: AKRO) on December 9, acquiring all outstanding shares for $54 per share in cash, totaling $4.7 billion.

The transaction includes contingent value rights that entitle shareholders to an additional $6 per share, worth approximately $500 million, upon U.S. regulatory approval of Akero's lead drug candidate EFX for treating compensated cirrhosis due to MASH (metabolic dysfunction-associated steatohepatitis).

Akero became a wholly owned subsidiary of Novo Nordisk following the completion. The company's common stock will no longer trade on the Nasdaq Global Select Market.

Akero Therapeutics develops treatments for metabolic diseases, with its primary focus on MASH. The company's lead product candidate, efruxifermin (EFX), is currently in three Phase 3 clinical studies: SYNCHRONY Histology for patients with pre-cirrhotic MASH, SYNCHRONY Outcomes for patients with compensated cirrhosis due to MASH, and SYNCHRONY Real-World for patients with MASH or MASLD.

The acquisition was initially announced on October 9, 2025. Akero is headquartered in South San Francisco, while Novo Nordisk operates from Denmark with approximately 78,500 employees across 80 countries.

The transaction expands Novo Nordisk's portfolio in metabolic diseases beyond its diabetes heritage, according to the company announcement.

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