Pfizer loses bid to temporary block Metsera's Novo Nordisk offer

[Pfizer, Johnson & Johnson (J&J), GSK, AbbVie, AstraZeneca, Sanofi, Bayer, Novo Nordisk, Amgen. Assorted pharmaceutical companies]
Robert Way

* A judge denied Pfizer's (PFE [https://seekingalpha.com/symbol/PFE]) request to temporarily block Novo Nordisk's (NVO [https://seekingalpha.com/symbol/NVO]) $10 billion bid for Metsera.
* Delaware Chancery Judge Morgan Zurn made the decision to deny the temporary restraining order on a call with parties on Wednesday, saying Pfizer's claims didn't merit a delay.
* The judge's decision comes as Pfizer and Novo Nordisk on Tuesday disclosed new higher bids [https://seekingalpha.com/news/4514286-metsera-gets-higher-bids-from-novartis-pfizer-in-bidding-war#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews] in their battle for Metsera (MTSR [https://seekingalpha.com/symbol/MTSR]), though Metsera declared the latest offer from Novo Nordisk as "superior.
* Pfizer (PFE [https://seekingalpha.com/symbol/PFE]) on Friday sued Metsera [https://seekingalpha.com/news/4512715-pfizer-sues-metsera-novo-nordisk-block-rival-bid#hasComeFromMpArticle=false#source=section%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews](MTSR [https://seekingalpha.com/symbol/MTSR]), alleging breach of contract, breach of fiduciary duty, and tortious interference in contract due to Metsera's breach of its obligations after it agreed to merge with Pfizer. Pfizer on Monday said it filed a second lawsuit against Metsera, saying the Novo Nordisk (NVO [https://seekingalpha.com/symbol/NVO]) deal would violate antitrust laws.

MORE ON METSERA, PFIZER, ETC.

* Novo Nordisk: Problems Compound, But Stock Still Cheap (Rating Downgrade) [https://seekingalpha.com/article/4838558-novo-nordisk-problems-compound-but-stock-still-cheap-rating-downgrade]
* Why Novo Nordisk's Q3 Miss Is A Buying Opportunity [https://seekingalpha.com/article/4838525-why-novo-nordisk-q3-miss-is-a-buying-opportunity]
* Novo Nordisk Q3: Why I'm Not Giving Up Yet [https://seekingalpha.com/article/4838334-novo-nordisk-q3-why-im-not-giving-up-yet]
* Metsera falls on report FTC has concerns about Novo Nordisk deal [https://seekingalpha.com/news/4516302-metsera-falls-on-report-ftc-has-concerns-about-novo-nordisk-deal]
* Novo touts blood sugar control and cardiovascular benefits of Wegovy pill with new trial data [https://seekingalpha.com/news/4516199-novo-posts-new-trial-data-wegovy-pill]