Novo Nordisk agreed to pay up to $2 billion for the rights to a developmental weight-loss and obesity drug from Chinese pharmaceutical company The United Bio-Technology Co., as it looks to boost its pipeline of next-generation drugs.

Danish drugmaker Novo Nordisk has bought global rights to China-based United Laboratories International's so-called "triple-G" weight-loss drug candidate in a deal worth up to $2 billion.

Novo Nordisk has signed an exclusive global licensing deal worth up to $2 billion for UBT251, a weight-loss drug developed by China-based The United Laboratories International Holdings Limited.