Novo Nordisk Completes Akero Therapeutics Acquisition For $4.7B With $54/Share Cash Payout And $6/Share CVR For EFX In MASH Cirrhosis

Novo Nordisk and Akero Therapeutics Inc. have announced the successful completion of Novo Nordisk’s acquisition of Akero, originally disclosed on 9 October 2025. This milestone marks an important step in Novo Nordisk’s strategy to expand its presence in liver and cardiometabolic diseases. With the transaction finalized, Novo Nordisk has acquired all outstanding shares of Akero’s common stock and common stock equivalents for 54 USD per share in cash, representing a total upfront value of 4.7 billion USD. 

In addition to this payment, shareholders will receive a non-transferable Contingent Value Right (CVR), which provides the opportunity for an additional 6 USD per share in cash—amounting to a further 0.5 billion USD. This additional payment will be made if Akero’s lead therapeutic candidate, EFX, receives U.S. regulatory approval for the treatment of compensated cirrhosis due to metabolic dysfunction-associated steatohepatitis (MASH).

Following the completion of the acquisition, Akero has now become a wholly owned subsidiary of Novo Nordisk. As part of this integration, Akero’s common stock will no longer be listed or traded on the Nasdaq Global Select Market. The acquisition positions Novo Nordisk to strengthen its innovation pipeline and accelerate the development of potential new therapies targeting serious chronic liver diseases, including advanced-stage MASH.