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 granted Novo Nordisk exclusive rights to develop LX9851, an oral obesity drug, with potential milestone payments of up to $1 billion.