Novo Nordisk said Monday that it had entered into a license agreement with a Chinese company developing a competitor to Novo’s Ozempic. The Danish pharma giant said it would pay $200 million upfront and up to $1.

Novo Nordisk has acquired the global rights to China-based United Laboratories’ triple-agonist weight-loss and diabetes drug in a deal worth up to $2bn as the Wegovy (semalgutide) developer seeks a successor for its blockbuster drug.

Novo Nordisk, a Danish pharmaceutical company, has signed a major deal worth up to $2 billion for the rights to a new obesity and diabetes drug, the company announced March 24. The drug, called UBT251,

Danish drugmaker Novo Nordisk has bought global rights to China-based United Laboratories International's so-called "triple-G" weight-loss drug candidate in a deal worth up to $2 billion.