Reported 11 months ago
Zealand Pharma A/S has sold around 7 billion kroner ($1 billion) in new shares to support the development of its experimental obesity drugs, competing with Novo Nordisk A/S. The proceeds will be used for advancing weight-loss drug programs in later-stage clinical trials and conducting studies in related diseases. Zealand is still looking for strategic partners to bring some of its assets to the market. The company's shares have risen by 138% this year, reaching a market value of about $8 billion.
Source: YAHOO