Gubra soars in market after billion-sale of diet drug

Danish biotech company Gubra has sold the rights to a developing weight loss drug to American company AbbVie, receiving an immediate payment of $350 million (approx. 2.5 billion DKK). Potential milestone payments could total up to about 13.4 billion DKK. Gubra’s CEO Henrik Blou expressed excitement over partnering with AbbVie, citing their strong capabilities in developing and commercializing life-changing medications. Following the announcement, Gubra’s stock price rose over 20 percent. The drug, known as GUB014295 or Gubamy, is based on the hormone amylin’s effects on satiety, potentially treating obesity by signaling the brain to reduce hunger and food intake. In a phase 1 study, participants using Gubamy lost an average of three percent body weight in six weeks.