Zealand Pharma, Generate strike obesity drug deal worth up to $1.2 billion, Bloomberg News reports

Oct 13 (Reuters) — Danish drugmaker Zealand Pharma and Generate Biomedicines have struck a deal worth up to nearly $1.2 billion to develop obesity treatments using artificial intelligence, Bloomberg News reported on Tuesday. The agreement includes $30 million upfront and $35 million in early milestone payments, Bloomberg reported, citing a document. Zealand Pharma did not did not immediately respond to a Reuters request for comment. (Reporting by Sahil Pandey in Bengaluru) ((Sahil.Pandey@thomsonreuters.com;)