June 11, 2020 / 1:13 PM / 22 days ago

BRIEF-Novo Nordisk To Acquire Corvidia Therapeutics

June 11 (Reuters) - Novo Nordisk A/S:

* NOVO NORDISK TO ACQUIRE CORVIDIA THERAPEUTICS AND EXPAND PRESENCE IN CARDIOVASCULAR DISEASE

* UNDER TERMS OF AGREEMENT, NOVO NORDISK WILL ACQUIRE ALL OUTSTANDING SHARES OF CORVIDIA THERAPEUTICS FOR AN UPFRONT PAYMENT OF 725 MILLION US DOLLARS IN CASH

* TRANSACTION WILL NOT IMPACT NOVO NORDISK’S PREVIOUSLY COMMUNICATED OPERATING PROFIT OUTLOOK FOR 2020

* TOTAL PAYMENTS TO CORVIDIA THERAPEUTICS SHAREHOLDERS COULD ULTIMATELY AMOUNT TO 2.1 BILLION US DOLLARS IN CASH UPON ACHIEVEMENT OF CERTAIN REGULATORY AND SALES MILESTONES BY NOVO NORDISK

* NOVO NORDISK WILL FUND UPFRONT PAYMENT FROM FINANCIAL RESERVES AND ONGOING SHARE BUYBACK PROGRAMME WILL NOT BE IMPACTED Source text: bit.ly/3f9hGEc Further company coverage: (Gdansk Newsroom)

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