Novo Nordisk Challenges Pfizer With $9 Billion Bid for Metsera
Source: www.legit.ng Key Points: Novo Nordisk’s $9B Bid: Novo Nordisk outbids Pfizer with a $9 billion offer to acquire U.S. obesity biotech Metsera. Pfizer Pushback: Pfizer calls the offer “reckless” and plans legal action over alleged contract breaches. Strategic Move: The deal boosts Novo’s obesity drug pipeline amid patent expirations and rising market competition. COPENHAGEN, Oct. 30 — Novo Nordisk has launched a rival bid to acquire U.S.-based obesity biotech company Metsera, escalating competition with Pfizer in the fast-growing weight-loss drug market. The Danish drugmaker’s new offer values Metsera at about $9 billion, outpacing Pfizer’s earlier proposal worth $7.3 billion. Novo Nordisk, best known for its blockbuster weight-loss drug Wegovy and diabetes medication Ozempic, offered up to $8.5 billion in total, including $6 billion upfront and additional milestone payments. Pfizer’s bid also included milestone-based payments but fell short in total valuation. Metsera confirmed ...