Novo Buys Omeros Rare-Disease Drug for Up to $2.1 Billion (1)

Novo Nordisk A/S agreed to pay Omeros Corp. as much as $2.1 billion for rights to an experimental rare-disease drug, as the maker of Ozempic continues to use deal-making to build its pipeline.

Omeros will receive $340 million in up-front and near-term payments, with the rest tied to development and commercial milestones, the companies said on Wednesday. The experimental drug, zaltenibart, is being tested for rare blood and kidney disorders.

Omeros shares surged, almost tripling, and were up 143% to $9.95 by 9:51 a.m. in New York. Novo Nordisk rose as much as 1% in Copenhagen.

The deal is Novo’s ...