Novo Nordisk To Pay Around $2 Billion For Obesity Drug From China-Based Biotech

On Monday, The United Laboratories International Holdings Limited (TUL) and Novo Nordisk A/S (NYSE:NVO) entered into an exclusive license agreement for an obesity drug.

Under the license agreement, Novo Nordisk will obtain exclusive worldwide rights (excluding Chinese mainland, Hong Kong, Macau, and Taiwan) to develop, manufacture, and commercialize UBT251.

United Biotechnology will retain the rights for UBT251 in the Chinese mainland, Hong Kong, Macau, and Taiwan.

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