Novo Nordisk said on Thursday it would buy U.S.-based Akero Therapeutics for up to $5.2 billion to add its promising experimental liver disease drug, in the first major deal by the Danish drugmaker’s new CEO to boost growth.

The deal underscores new Novo Nordisk CEO Mike Doustdar’s efforts to revive sales growth and fend off intense competition from U.S. rival Eli Lilly. Doustdar, who took over the reins in July, last month also announced the company would cut 9,000 jobs.

Akero is testing its drug, efruxifermin, in a late-stage trial of patients with severe liver scarring, or cirrhosis, due to a type of fatty liver disease known as metabolic dysfunction-associated steatohepatitis (MASH).

Efruxifermin could be a potential breakthrough in treatment of fatty liver disease and become a “cor

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