Novo Nordisk expands into sickle cell disease and rare blood disorders with $1 billion buy

Danish diabetes care giant Novo Nordisk (NOV: N) has entered into a definitive agreement to acquire Forma Therapeutics (Nasdaq: FMYX), a US clinical-stage biopharmaceutical company focused on transforming the lives of patients with sickle cell disease (SCD) and rare blood disorders, whose shares rocketed up 48% to $19.84 on the news.

The acquisition of Forma Therapeutics, including its lead development candidate, etavopivat, is aligned with Novo Nordisk’s strategy to complement and accelerate its scientific presence and pipeline in hemoglobinopathies, a group of disorders in which there is abnormal production or structure of the hemoglobin protein in the red blood cells.

Terms of the transaction