Roche to Buy Obesity Drug Maker Carmot for $3.1 Billion
- Carmot’s backers include tycoon Li Ka-shing’s Horizons
- Roche is joining pharma industry rush into obesity drugs
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Roche Holding AG agreed to pay as much as $3.1 billion for Carmot Therapeutics Inc., a developer of the new type of weight-loss treatments that’s sparked a pharma industry gold rush.
The deal for three experimental medicines in obesity and diabetes could push the Swiss drugmaker into competition with European rival Novo Nordisk A/S, whose drug Wegovy has fueled the Danish pharma player’s growth into the most valuable company in Europe.