Novo Nordisk moved to acquire Akero Therapeutics in a transaction valued at up to $5.2 billion to add efruxifermin (EFX), an FGF21 analogue now in Phase III for metabolic dysfunction‑associated steatohepatitis (MASH), to its pipeline. Novo cited compelling Phase II and long‑term data suggesting fibrosis regression in some cirrhosis patients as the rationale. The acquisition positions Novo to pair its metabolic franchise with a late‑stage antifibrotic candidate and underscores intensifying M&A competition in the NASH/MASH space.