Pfizer wins $10 billion Metsera bidding war as Novo Nordisk exits

STORY: U.S. drugmaker Pfizer has clinched a $10 billion deal for obesity drug developer Metsera.It ended the biotech bidding war with Danish rival Novo Nordisk, which announced Saturday (November 8) it would exit the race. Metsera accepted a sweetened offer from Pfizer late Friday (November 7). It cited U.S. antitrust risks in Novo's bid that it had previously called superior. Novo said in a statement that it believed its offer structure was "compliant with antitrust laws."Metsera’s drugs are projected to reach $5 billion in peak sales.And this win hands Pfizer a way into the lucrative obesity drug market - even if Metsera’s treatments remain years away from hitting shelves. It marks a blow for Novo as it tries to claw back lost ground against U.S. rival Eli Lilly.The Danish drugmaker later said it’s advancing its own pipeline of treatment options for obesity…And that it would "continue to assess opportunities for business development and acquisitions”.Pfizer said it expects to close the merger soon after Metsera's November 13 shareholder meeting.

View Comments