Novo Nordisk returned to the table and completed a roughly $4.7 billion acquisition of MASH drug developer Akero Therapeutics after earlier walking away from talks. The transaction consolidates assets focused on metabolic and possibly cardio-metabolic indications and reflects a broader appetite among large pharma for specialized R&D platforms. Deal reporting says negotiations briefly stalled before Novo revived discussions and finalized terms. The move follows a sequence of strategic buys by big-cap pharmas seeking late-stage candidates and platform capabilities that map to their therapeutic priorities. Analysts will assess whether Novo can integrate the MASH programs to accelerate pipeline diversification beyond its core metabolic franchise and whether any planned spinouts or portfolio reorganizations follow the acquisition.