NVO - Novo Nordisk agrees to acquire Dicerna for more than $3 billion

Novo Nordisk (NYSE:NVO) has signed an agreement with Dicerna Pharmaceuticals (NASDAQ:DRNA) under which it will acquire Dicerna for $38.25 per share in cash. The purchase consideration indicating a premium of 80% to Dicerna’s closing price on Nov. 17 implies a total equity value of $3.3B. Novo Nordisk (NVO) and Dicerna (DRNA) have an ongoing research collaboration to develop treatments based on ribonucleic acid interference (RNAi). Danish company expects to advance the first  RNAi therapeutic from the collaboration into clinical studies in 2022. Other biotechs focused on RNAi therapies include Alnylam Pharmaceuticals (NASDAQ:ALNY). Per the terms, Novo Nordisk expects to make a tender offer through a subsidiary to acquire all outstanding shares of Dicerna (DRNA). Transaction is expected to close in Q4 2021. Dicerna (DRNA) is trading ~2.5% lower while Novo Nordisk (NVO) have added ~1.2% in the pre-market.

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Novo Nordisk agrees to acquire Dicerna for more than $3 billion