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Novo Nordisk (NYSE:NVO) is considering acquisitions to strengthen its weight-loss drug pipeline and expand into related therapeutic areas as competition increases, Chief Executive Mike Doustdar said on Tuesday. Speaking to CNBC’s Squawk Box Europe, Doustdar said the Danish pharmaceutical company was examining opportunities to address gaps in its portfolio, including acquiring medicines that could complement or outperform treatments developed internally.

All three major US stock indexes were up in late-morning trading Monday, as oil prices and Treasury

Kailera Therapeutics raised one of the biggest obesity biotech IPOs in recent memory, then watched its stock drop nearly 30%. Now several of the world's largest drugmakers have a compelling reason to make a move before pivotal trial data arrives.

Chief Executive Mike Doustdar’s comments come amid sector focus on M&A and after Novo Nordisk made two disclosures in recent days on its future pipeline that disappointed investors.

Eli Lilly shares hit a record high Tuesday after IPO stock Kailera Therapeutics posted lackluster test results for its weight-loss pill.

Analysts initiated covered Tuesday of IPO stock Kailera Therapeutics, a potential competitor to Lilly and Novo in obesity treatment.