Asian Stocks Rise as Weak US Jobs Data Eases Fed Rate Hike Fears 
JPMorgan Plans More Asia-Pacific Hiring in 2027 as Corporate Banking Revenue Surges 
US Dollar Near Two-Month Low as Markets Await Inflation Data 
Apple Tests China’s CXMT Memory Chips for iPhones and MacBooks Amid AI Supply Crunch 
Meta Ordered to Pay $567M Over Child Safety Violations in New Mexico 
Cloudflare Stock Jumps 15% as Earnings Beat Estimates, 2026 Outlook Raised 
Australian Shares Fall as Westpac Slides, Miners Gain Ahead of RBA Decision 
Oil Prices Rise as US-Iran Talks Stall, Inflation Risks Grow 
Asian Stocks Mixed as RBA Holds Rates, Oil Risks Rise 
Singapore Raises 2026 GDP Growth Forecast to 4.5%-5.5% as AI Boom Fuels Economy 
Shein Scales Back Vietnam Operations as US Trade Rules Shift 
Berkshire Hathaway Cash Falls as Abel Boosts Stock Buybacks 
Gold Prices Hold Near Seven-Week High as Markets Await U.S. Inflation Data 
Natura Q2 Profit Plunges 92% as Financial Expenses Weigh on Earnings 
Deutsche Bank Upgrades Persimmon to Buy After Strong First-Half Results 
OpenAI Restricts Astra AI Over Cyberattack Risks 
China Inflation Cools in July as CPI Misses Forecast, PPI Deflation Eases 
Novo Nordisk, a Danish pharmaceutical firm based in Bagsværd, Denmark, announced on Thursday, Aug. 10, that it will buy privately held the Canadian obesity drug manufacturer Inversago Pharma.
The company said the deal may be worth up to $1.08 billion. Novo Nordisk said there is no exact price yet as of this time because the determination will depend on whether Inversago Pharma is able to achieve certain development and target sales.
CNBC reported that the firms are looking to close the deal before 2023 ends. Novo Nordisk’s decision to acquire the Canadian company is a strategic move to further widen its weight loss portfolio.
The transaction also comes after its Wegovy prescription medication for adults with obesity and Ozempic weight loss injectibles’ popularity took off to great heights. The company is taking advantage of this achievement and aims to keep this momentum going by adding Inversago Pharma and its products into its own weight loss and obesity treatment offering lineup.
“The acquisition of Inversago Pharma will further strengthen our clinical development pipeline in obesity and related disorders,” Novo Nordisk’s executive vice president for development, Martin Holst Lange, commented in a press release. “This promising class of medicine pioneered by the Inversago team could lead to life-changing new treatment options for those living with a serious chronic disease and, in particular, may offer alternative or complementary solutions for people living with obesity.”
Finally, François Ravenelle, Inversago Pharma’s chief executive officer, also said they “are delighted to join forces with a global leader in the obesity and metabolic disorder space. It added that they “believe this combination will help unlock the full medical potential of their CB1 blockers and may one day expand treatment options for people living with metabolic syndrome, obesity, and related complications.”
Photo by: Novo Nordisk Media Library
