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)