Novo Nordisk Launches Surprise Bid for Metsera, Topping Pfizer Offer; Pfizer Alleges Move May Violate Antitrust Law
Novo Nordisk made an unsolicited bid of $56.50 per share in cash for Metsera—valuing the biotech at $6 billion—topping Pfizer’s earlier offer of $47.50 per share ($4.9 billion)
Pfizer had previously agreed last month to acquire Metsera for up to $7.3 billion including milestones, as part of its strategy to re-enter the obesity drug market after discontinuing its own experimental pill due to safety concerns
Novo Nordisk’s new offer includes potential additional payments of $21.25 per share if certain clinical and regulatory milestones are met, potentially increasing the total value of the bid to $9 billion
Pfizer has rejected Novo Nordisk’s bid, alleging it is anti-competitive and 'in violation of law', though specific legal details are not disclosed
The Metsera board is reviewing the Novo Nordisk proposal, which could disrupt Pfizer’s planned acquisition
Novo Nordisk’s move comes amid internal shake-ups and pressure to revive its obesity drug portfolio as it faces increased competition in the US market
Metsera’s pipeline includes once-monthly injectable and oral obesity treatments in development