Novo Nordisk Ups Metsera Bid to $10 Billion to Top Pfizer’s Offer
Novo Nordisk has increased its bid for Metsera to up to $10 billion, offering $62.20 per share in cash plus a contingent value right (CVR) of up to $24 per share tied to regulatory milestones.
This revised offer surpasses Pfizer's latest proposal of $60 per share upfront and a maximum CVR of $10 per share, totaling $8.1 billion.
Metsera declared Novo Nordisk's proposal superior to its existing agreement with Pfizer, giving Pfizer a window to renegotiate.
Pfizer's CEO Albert Bourla criticized Novo's offer as 'illusory' due to high regulatory risk, but pledged to fight for the deal.
Metsera is a development-stage biotech focused on obesity and diabetes treatments, with no products currently on the market.