Novo Nordisk agreed to acquire Akero Therapeutics for up to $5.2 billion to secure efruxifermin (EFX), an FGF21 analogue now in Phase III for metabolic dysfunction‑associated steatohepatitis (MASH). The deal centers on EFX’s late‑stage data, including SYMMETRY Phase IIb results showing fibrosis regression in a meaningful fraction of treated patients. Novo Nordisk CEO Maziar (Mike) Doustdar highlighted EFX’s unique fibrosis‑regression signal in F4 cirrhosis, framing the acquisition as a strategic push into advanced liver disease where incretin monotherapies fall short. The company plans rapid integration of EFX into its pipeline and commercial portfolio, underscoring a high‑value M&A approach to bolster metabolic disease capabilities.