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(Sharecast News) - Danish drugmaker Novo Nordisk has signed a deal worth up $2bn to develop, make and sell United Laboratories International's weight-loss drug candidate.
Under the deal, Novo will pay China-based United $200m up front with a further $1.8bn if development and sales milestones are met for the drug candidate, known as UBT251.
The treatment, which is in trials at the moment, targets three hormones, compared to Novo's own best-selling drug Wegovy, which targets only one that makes people feel fuller for longer.
United Labs unit will keep the rights for UBT251 in China mainland, the Hong Kong Special Administrative Region, the Macau Special Administrative Region and Taiwan, the company said on Monday.
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