Metsera Calls Pfizer’s Threats ‘Nonsense’ as Rift Between Companies Widens

Pfizer filed a lawsuit against Metsera and Novo Nordisk alleging breach of merger agreement obligations after Metsera declared Novo Nordisk’s higher bid as a superior offer135.

Metsera’s Board labeled Pfizer’s litigation arguments as 'nonsense,' stating that Pfizer is attempting to force a purchase at a lower price than Novo Nordisk's offer2.

Metsera publicly rejected the claims in Pfizer’s complaint, asserting it will address them in court46.

Pfizer obtained early antitrust clearance from the US Federal Trade Commission for its US$7.3 billion proposed acquisition of Metsera, clearing the way for a potential shareholder vote on November 1315.

Pfizer's lawsuit asserts that Novo Nordisk’s bid presents significant regulatory risk and uses an unprecedented transaction structure to evade antitrust review, further alleging violations of Delaware law and breach of fiduciary duty by Metsera’s directors35.

Metsera's board previously considered Novo Nordisk's proposal too risky and maintains its stance despite Pfizer's legal pressure1.

Sources:

1. https://www.businesstimes.com.sg/companies-markets/pfizer-sues-metsera-novo-nordisk-over-rival-obesity-drug-bid

2. https://www.prnewswire.com/news-releases/metsera-issues-statement-in-response-to-litigation-302602743.html

3. https://www.pfizer.com/print/pdf/node/562417

4. https://investingnews.com/metsera-issues-statement-in-response-to-litigation/

5. https://www.pfizer.com/news/press-release/press-release-detail/pfizer-files-lawsuit-against-metsera-and-its-directors-and

6. https://www.streetinsider.com/Corporate+News/Metsera+responds+to+Pfizer+litigation,+will+address+claims+in+court/25539730.html