Swiss pharmaceutical giant Roche said Wednesday that it had struck a deal worth up to $5.3 billion to develop Zealand Pharma's obesity drug candidate.

Roche Holding said it would pay Danish biotechnology research company Zealand Pharma up to $5.3 billion under an agreement to co-develop a weight-loss treatment.

Roche has acquired rights to an obesity therapy by Denmark's Zealand Pharma in a collaboration deal worth up to $5.3 billion, as the Swiss drugmaker seeks to boost its prospects in the booming weight-loss market.