Novo Nordisk (NVO) is partnering with OpenAI to advance artificial intelligence (A.I.) drug discoveries.
The partnership will enable Novo Nordisk to use A.I. to analyze complex datasets, identify promising new drugs, and reduce the time it takes for a medicine to reach patients.
Sam Altman, CEO of privately held startup OpenAI, said in a news release that “AI is reshaping industries and in life sciences, it can help people live better, longer lives.”
Novo Nordisk is one of several drugmakers that are using A.I. to improve discoveries and speed-up lengthy regulatory approval processes.
In addition to helping discover new treatments, A.I. can help companies with the time-consuming task of identifying patients and locations for clinical trials.
Novo Nordisk’s partnership with OpenAI builds on its A.I. initiatives that also include a deal with Nvidia (NVDA) to use the Gefion supercomputer to accelerate drug discoveries.
The push further into A.I. comes as Novo Nordisk is locked in a race with rival Eli Lilly (LLY) for dominance in the weight-loss drug market.
Novo Nordisk is racing to gain market share with its Wegovy weight-loss pill that it launched in January of this year.
NVO stock has declined 43% over the last 12 months to trade at $37.98 U.S. per share.
