Mar 19, 2017 08:17 PM EDT

Novo Nordisk Looking To Acquire Global Blood Therapeutics

Danish drug maker Novo Nordisk is going after Global Blood Therapeutics. If the deal pushes through, Global Blood Therapeutics will be a fine addition to the Danish drug maker's portfolio.

People who are knowledgeable with the companies' discussion said Novo Nordisk and Global Blood Therapeutics are definitely having talks regarding a potential acquisition. However, they could not disclose any more details because information regarding the talks is not yet available to the public.

According to a report by CNBC, purchasing Global Blood Therapeutics is part of Novo Nordisk's strategy to boost the sales of its aging diabetes franchise. The Danish drugmaker has been struggling to increase sales of the franchise.

The market appeared to have welcomed the news as shares of Global Blood Therapeutics climbed after the rumored deal has been announced. Novo Nordisk had been intent on focusing all its efforts on insulin and other diabetes treatments.

If Novo Nordisk manages to successfully acquire Global Blood Therapeutics, the Danish drug maker will get its hands on several blood disease treatments that the U.S. biotechnology company is developing. Global Blood Therapeutics is working solely on finding treatments and cures for serious blood disorders. It is researching on several conditions, including sickle cell disease.

The acquisition could signal Novo Nordisk's diversification into serious blood disorders. In addition, Global Blood Therapeutics research will also help the Danish drug maker work on its aging diabetes treatments and cures.

Fierce Biotech reported that Global Blood Therapeutics has already engaged an investment bank to serve as an adviser during the deal talks. However, it is still not clear whether the two companies will end up agreeing on the terms of the deal or if the deal will push through.

In another health care-related news, Jobs & Hire previously reported that small businesses are poised to enjoy new health care options under President Donald Trump.

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