Novo Nordisk Launches $8.5 B Bid for Metsera, Igniting Pfizer Takeover Duel
Novo Nordisk has made an unsolicited offer to acquire US biotech Metsera, aiming to outbid Pfizer in the competitive obesity-drug market.
Novo is offering $56.50 per share in cash plus up to $21.25 in milestone payments, valuing the deal at about $8.5 billion.
Metsera’s board has declared Novo’s proposal a “Superior Company Proposal” under its agreement with Pfizer, triggering a four-business-day window for Pfizer to respond.
Pfizer has labelled Novo’s move “reckless and unprecedented,” arguing it threatens competition and regulatory compliance.
The fight highlights how high the stakes are in the booming weight-loss treatment sector, where GLP-1 and amylin drugs are projected to generate $150 billion in annual sales by 2030.
Analysts say Metsera’s strong pipeline, which includes novel injectables and oral therapies, makes it a coveted target for established firms like Novo and Pfizer.
The deal remains subject to board review, regulatory approvals and potential legal challenges. Shareholders and antitrust watchdogs will be watching closely.
