Back to top

Analyst Blog

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at or call 800-767-3771 ext.  9339.

Novo Nordisk (NVO - Analyst Report) recently announced that it has granted total development and commercialization rights to anti-NKG2A antibody to Innate Pharma.

The first-in-class immune checkpoint inhibitor, anti-NKG2A (IPH2201), is being developed for the treatment of rheumatoid arthritis. The phase I study data on anti-NKG2A showed a good safety profile at both single and multiple administrations. Innate Pharma will evaluate anti-NKG2A in immuno-oncology with studies commencing in 2014.

Under this deal, Novo Nordisk will receive €2 million in cash and 600,000 shares of Innate Pharma. The acquisition of Innate Pharma shares is subject to approval by Innate’s shareholders on Mar 27, 2014. We note that Novo Nordisk is already a minority shareholder in Innate Pharma.

Novo Nordisk is also eligible to potential registration milestone payments of up to €20 million. Novo Nordisk will also receive single-digit tiered royalties on future sales.

This licensing deal represents Innate Pharma’s leadership in immuno-modulating antibodies targeting the innate immune system.

We note that in Apr 2006, Novo Nordisk and Innate Pharma had formed a partnership to research and develop drugs targeting natural killer (NK) cells. Novo Nordisk had then in-licensed anti-NKG2A from Innate Pharma.

Anti-NKG2A was the third therapeutic antibody generated from their partnership to enter clinical trials and the second targeting a checkpoint receptor (after lirilumab).

Novo Nordisk carries a Zacks Rank #4 (Sell). Novo Nordisk shares rose 3.7% on the news. Some better-ranked players in the pharma industry include Actelion Ltd. (ALIOF), Endocyte Inc. (ECYT - Snapshot Report) and Salix Pharmaceuticals Ltd. (SLXP - Analyst Report). All the three stocks carry a Zacks Rank #1 (Strong Buy).

Please login to or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research


Are you a new Zacks Member or a visitor to

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
ANI PHARMACE ANIP 29.85 +16.83%
ALLIANCE FIB AFOP 17.94 +3.59%
FEDERATED NA FNHC 20.51 +3.22%
GENTHERM INC THRM 36.80 +2.65%
ATLAS FINANC AFH 14.60 +2.53%