Viking Therapeutics, Genfit, Sagimet jump as Novo to buy Akero

Viking Therapeutics (NASDAQ:VKTX [https://seekingalpha.com/symbol/VKTX]) and other biotechs advancing drugs for a liver disease called metabolic dysfunction-associated steatohepatitis (MASH) gained on Thursday as the MASH space witnessed the latest M&A deal, with Novo Nordisk (NVO [https://seekingalpha.com/symbol/NVO]) agreeing to buy Akero Therapeutics (NASDAQ:AKRO [https://seekingalpha.com/symbol/AKRO]) in a transaction worth up to $5.2B. [https://seekingalpha.com/news/4502886-akero-therapeutics-to-be-acquired-by-novo-nordisk-for-up-to-52b]

While Akero (NASDAQ:AKRO [https://seekingalpha.com/symbol/AKRO]) jumped ~17% as the transaction implied $54.00 per share in cash for its investors at the closing, Viking (NASDAQ:VKTX [https://seekingalpha.com/symbol/VKTX]), a leading weight-loss drug developer rivaling Novo (NVO [https://seekingalpha.com/symbol/NVO]), added ~5%.

Other notable gainers included Genfit (NASDAQ:GNFT [https://seekingalpha.com/symbol/GNFT]) and Sagimet Biosciences (NASDAQ:SGMT [https://seekingalpha.com/symbol/SGMT]). Meanwhile, Madrigal Pharma (MDGL [https://seekingalpha.com/symbol/MDGL]), which already markets a MASH therapy, traded flat alongside 89bio (ETNB [https://seekingalpha.com/symbol/ETNB]), whose MASH candidate pegozafermin was behind Roche’s (OTCQX:RHHBY [https://seekingalpha.com/symbol/RHHBY]) decision to acquire it for up to $3.5B last month. [https://seekingalpha.com/news/4495908-roche-to-acquire-89bio-in-deal-worth-up-to-35-billion#hasComeFromMpArticle=false]

With the Akero (NASDAQ:AKRO [https://seekingalpha.com/symbol/AKRO]) deal, Novo (NVO [https://seekingalpha.com/symbol/NVO]) is expected to add another asset against MASH after the FDA approved a label expansion for its weight loss drug Wegovy in August to target the fatty liver disease formerly known as NASH.

“You need to be able to have an eye on who else is out there, who has possibly invented something above and beyond what we could do,” Mike Doustdar, newly appointed CEO of the Danish drugmaker, said, according to Bloomberg News.

“We should not have a ‘not invented here’ syndrome and be quite open to other people’s science,” he added, noting that the company had previously decided against Akero (AKRO [https://seekingalpha.com/symbol/AKRO]) after a prior review indicated it wasn’t the ideal time for a deal.

Doustdar said that after he became Novo’s (NVO [https://seekingalpha.com/symbol/NVO]) CEO in August, his team evaluated several assets and considered AKRO as “one of the ones that is very [https://www.bloomberg.com/news/articles/2025-10-09/novo-ceo-says-risk-taking-deals-are-needed-to-win-obesity-race], very good right now.” “If you always find a hair in the soup, we are not going to eat any soup,” he added.

MORE ON AKERO THERAPEUTICS, NOVO NORDISK, ETC.

* Novo Nordisk to Acquire Akero Therapeutics Inc. [https://seekingalpha.com/article/4828884-novo-nordisk-to-acquire-akero-therapeutics-inc]
* Novo Nordisk A/S (NVO) M&A Call Transcript [https://seekingalpha.com/article/4828831-novo-nordisk-a-s-nvo-m-and-a-call-transcript]
* Novo Nordisk: The Lack Of Pricing Power Is A Problem [https://seekingalpha.com/article/4828717-novo-nordisk-the-lack-of-pricing-power-is-a-problem]
* Akero Therapeutics soars on $5.2 billion acquisition deal with Novo Nordisk [https://seekingalpha.com/news/4502886-akero-therapeutics-to-be-acquired-by-novo-nordisk-for-up-to-52b]
* Novo Nordisk’s appeal to halt Medicare price negotiations rejected [https://seekingalpha.com/news/4502401-novo-nordisk-loses-bid-halt-medicare-price-negotiations]