Novo Nordisk is licensing Lexicon Pharmaceuticals' experimental obesity drug in a deal worth up to $1 billion, the Danish drugmaker's second deal this week, as it looks to strengthen the pipeline of its weight-loss treatments.

Lexicon's stock rose 60% after securing a potential $1 billion deal with Novo Nordisk for preclinical obesity drug LX9851. Click here to read my analysis.

Lexicon Pharmaceuticals Inc. (Nasdaq: LXRX) said March 28 it will exclusively license its drug candidate LX9581 to Danish pharmaceutical giant Novo Nordisk A/S (NYSE: NVO). Under the terms of the agreement, Lexicon will receive up to $1 billion in up-front and potential development-, regulatory- and sales-milestone payments.