Novo Nordisk close to acquiring French medical device company for $165M
Novo Nordisk announced that it is working toward an acquisition of Biocorp, a French medical device company, that could total up to $165 million.
One of Biocorp’s most well-known devices is the Mallya, a “smart” pen injector cap that captures data for diabetes patients. Novo Nordisk and Biocorp have already been working together on the development and commercialization of an add-on device for Mallya since 2021; that collaboration expanded in 2022 to include new versions of the Mallya device that cover different therapies.
“Novo Nordisk has strong and established core capabilities within developing, scaling, and large-scale manufacturing of innovative injection devices for insulin and other medicines, and we are looking to increase agility to enable faster innovation and development of novel connected devices,” Marianne Ølholm, senior vice president of devices and delivery solutions at Novo Nordisk, said in a prepared statement. “We have enjoyed a fruitful collaboration with Biocorp over the past couple of years, and we hope to be able to welcome the company and its highly skilled workers into Novo Nordisk to complement our in-house efforts within connected delivery solutions and accelerate our ambitions within devices and delivery solutions.”
The two sides are still finalizing the details of this acquisition, but Novo Nordisk now holds the exclusive negotiation rights for a controlling stake in Biocorp. The price now being discussed is 154 million EUR, which converts to $164.96 million.
“This potential combination rewards our efforts, begun five years ago, to digitalize the treatment and monitoring of chronic patients, with the constant aim of easing their daily lives,” added Eric Dessertenne, Biocorp’s CEO. “Our teams are enthusiastic about pursuing this public health mission, which will be intensified by the strength of Novo Nordisk's global presence.”
When this deal was announced to the public on June 5, trading involving Biocorp stock was suspended until June 6.
Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.