VKTX, GPCR, ALT Stocks Rise: Novo Nordisk Signals Bigger M&A As It Chases Over 5 ‘Multi-Blockbusters’

VKTX, GPCR, ALT Stocks Rise: Novo Nordisk Signals Bigger M&A As It Chases Over 5 ‘Multi-Blockbusters’

- NVO tumbled about 8% as its Capital Markets Day failed to convince investors despite plans for more than five "multi-blockbusters" by 2030.

- Viking's injectable VK2735 produced up to 14.7% weight loss, while its oral formulation delivered 12.2% after 13 weeks.

- Structure's oral Aleniglipron achieved up to 16.2% weight loss at 72 weeks, while Altimmune advanced Pemvidutide into Phase 3 for MASH.

Shares of smaller obesity players jumped on Monday after Novo Nordisk (NVO) said that it could pursue larger acquisitions while targeting more than five "multi-blockbuster" launches by 2030.

Viking Therapeutics (VKTX) shares gained nearly 4%, Structure Therapeutics (GPCR) rose more than 5% and Altimmune (ALT) edged nearly 1% higher. Novo Nordisk's U.S.-listed shares, meanwhile, tumbled about 8% after its Capital Markets Day failed to win over investors.

Novo's shares sank despite its blockbuster ambitions and encouraging CagriSema results. The experimental treatment produced an estimated 12.4% average weight loss in diabetes patients, compared with 9.1% for a lower dose of Lilly's Tirzepatide. Novo is targeting an early-2027 launch.

Novo Opens Door To Bigger Deals

Novo CEO Mike Doustdar acknowledged that the company still has to convince investors "there is a bright future for Novo" as Eli Lilly intensifies competition and Semaglutide, the active ingredient in Wegovy and Ozempic, approaches patent expirations in the early 2030s.

Novo aims to launch more than five multi-blockbusters by 2030 and generate over $23 billion in risk-adjusted pipeline sales by 2035. The target covers only internally developed assets and excludes potential acquisitions. Novo said that its balance sheet could support larger transactions rather than only small bolt-on deals.

"We will not start with the size of the deal," Doustdar said. "We'll start with the quality of the assets and see where that will take us." The company could become more active in areas where its pipeline has gaps, including immune-mediated diseases, pain, addiction, women's and men's health, and blood and endocrine disorders.

VKTX's Dual-Format Drug Draws M&A Attention

Viking's VK2735 is a dual GLP-1/GIP agonist being developed as both a weekly injection and daily tablet. The injectable delivered up to 14.7% weight loss after 13 weeks without reaching a plateau and is advancing through the registrational Vanquish program.