Overview

• Akero shareholders will receive $54 in cash per share at closing plus a non‑transferable $6 CVR payable only if U.S. approval of efruxifermin for compensated cirrhosis due to MASH is obtained by June 30, 2031.
• The deal won unanimous approval from Akero’s board and is targeted to close around year‑end, pending shareholder approval and customary regulatory clearances.
• Efruxifermin is being tested in the Phase 3 SYNCHRONY program across three randomized trials covering pre‑cirrhotic (F2‑F3) and compensated cirrhosis (F4) populations and a real‑world cohort of roughly 3,500 participants.
• Company‑reported Phase 2b results showed significant fibrosis reductions and regression in some F4 patients, with the firms stating it is the only therapy to demonstrate significant F4 regression in a Phase 2 study.
• Novo Nordisk plans to primarily use debt financing and projects about a $4 billion negative impact on 2025 free cash flow, with higher R&D spending expected to weigh on 2026 operating profit growth.