Novo Nordisk A/S

Novo Nordisk has completed its acquisition of Akero Therapeutics

Bagsværd, Denmark and South San Francisco, CA, US, 9 December 2025 – Novo Nordisk and Akero Therapeutics Inc. (“Akero”) (Nasdaq: AKRO) today announced that Novo Nordisk’s acquisition of Akero, announced on 9 October 2025, has been completed.

With the completion of the transaction, Novo Nordisk has acquired all outstanding shares of common stock and common stock equivalents of Akero for 54 USD per share in cash (or aggregated value of 4.7 billion USD) and a non-transferable Contingent Value Right (“CVR”). Each CVR entitles its holder to an additional payment of 6 USD per share in cash (or aggregated value of 0.5 billion USD) upon US regulatory approval of Akero’s lead candidate EFX for the treatment of compensated cirrhosis due to MASH.

At the completion of the transaction, Akero became a wholly owned subsidiary of Novo Nordisk. The common stock of Akero will no longer be listed or traded on the Nasdaq Global Select Market.

About the acquisition
For more information about the acquisition, please see Novo Nordisk’s Company Announcement here.

About Akero Therapeutics
Akero Therapeutics is a clinical-stage company developing transformational treatments for patients with serious metabolic diseases marked by high unmet medical need, including metabolic dysfunction-associated steatohepatitis (MASH). Akero’s lead product candidate, efruxifermin (EFX), is currently being evaluated in three ongoing Phase 3 clinical studies: SYNCHRONY Histology in patients with pre-cirrhotic (F2-F3 fibrosis) MASH, SYNCHRONY Outcomes in patients with compensated cirrhosis (F4) due to MASH, and SYNCHRONY Real-World in patients with MASH or MASLD (metabolic dysfunction-associated steatotic liver disease). The Phase 3 SYNCHRONY program builds on the results of two Phase 2b clinical trials, the HARMONY study in patients with pre-cirrhotic MASH and the SYMMETRY study in patients with compensated cirrhosis due to MASH. Akero is headquartered in South San Francisco.

About Novo Nordisk
Novo Nordisk is a leading global healthcare company, founded in 1923 and headquartered in Denmark. Our purpose is to drive change to defeat serious chronic diseases, built upon our heritage in diabetes. We do so by pioneering scientific breakthroughs, expanding access to our medicines, and working to prevent and ultimately cure disease. Novo Nordisk employs approximately 78,500 people in 80 countries and markets its products in around 170 countries. For more information, visit novonordisk.com, Facebook, X, LinkedIn and YouTube.

Contacts for further information

Attachment

• PR251209-Akero closing