The 2 drugs tracked here made ≈$31.3B of Novo Nordisk’s 2025 revenue (67%) and lose US exclusivity by 2032. Since 2023, Novo Nordisk has closed 1 acquisition of $1B or more, worth $4.7B.
Bars are each drug's 2025 sales as a share of Novo Nordisk’s total revenue (≈$46.8B). Total sales DKK 309.1B. Only drugs tracked here are counted, so full exposure can be higher. Tap a bar for the drug's page.
| Closed | Company bought | Value | Area | What it brought | At closing |
|---|---|---|---|---|---|
| Dec 2025 | Akero TherapeuticsNovo Nordisk 6-K, October 2025 · Akero, December 2025 | $4.7B | Cardiometabolic | Efruxifermin, a Phase 3 drug for MASH, a fatty liver diseasePlus a CVR worth up to $0.5B. | Pipeline only |
| 1 counted | $4.7B | ||||
Acquisitions of whole companies closed since January 2023 with a headline price of $1B or more. Values are the price Novo Nordisk announced, excluding milestone payments unless noted. Licensing deals are not included. Compare all 65 deals →
| Area | At risk by 2037 | Acquisitions since 2023 |
|---|---|---|
| Cardiometabolic | ≈$31.3B | $4.7B |
Cardiometabolic is where Novo Nordisk has the most revenue at risk and where it has spent the most on acquisitions. At risk is 2025 sales of tracked drugs losing US exclusivity by 2037; acquisitions are the headline value of counted deals closed since 2023.
The two figures measure different things. Revenue at risk is what the drugs earned in 2025. A deal's value is what Novo Nordisk paid, not the sales it will bring in. None of the companies it bought had an approved product at closing, so any sales from them are years away and may never arrive. So this page shows the figures side by side rather than claiming how much of the gap the deals fill.
Dr. Reddy's launched the first generic in Canada, after generics reached India in the first quarter. US protection runs to 2032. Dr. Reddy's
Revenue: Novo AR 2025. Drug sales and dates are sourced on each drug's page; each deal links to Novo Nordisk’s announcement or filing in the table above.
See all 45 drugs on the patent cliff →