Novo Nordisk to boost MASH efforts with buy of Akero

9 October 2025

Denmark’s Novo Nordisk (NOV: N) today announced that it has entered into a definitive agreement to acquire US clinical-stage liver disease focused biotech Akero Therapeutics (Nasdaq: AKRO), with the news pushing the latter’s shares up 19.5% to $55.56 in pre-market activity.

Akero’s fibroblast growth factor 21 (FGF21) analogue efruxifermin (EFX) is a potentially best-in-class treatment for metabolic dysfunction-associated steatohepatitis (MASH). EFX is currently in Phase III development for the treatment of patients with moderate to advanced liver fibrosis (F2-F3) and patients with cirrhosis (F4).

In June 2022, Akero signed a collaboration with Pfizer (NYSE: PFE), which including a $25 million equity investment from the US pharma giant.

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