Pharma BD Deal Intelligence
Novo Nordisk acquired Forma Therapeutics for USD 1.1B (USD 20/share cash; tender + merger), closing 14 Oct 2022, to enter sickle cell disease and rare blood disorders. The thesis centered on lead asset etavopivat, a first-in-class oral once-daily pyruvate kinase-R (PKR) activator. The thesis was validated in April 2026 when the pivotal Phase 3 HIBISCUS trial met both co-primary endpoints in SCD (27% reduction in vaso-occlusive crisis events; 48.7% of patients achieving a >1 g/dL haemoglobin increase at 24 weeks vs 7.2% on placebo, n=385). Novo Nordisk plans its first regulatory filing for etavopivat in H2 2026.