Pfizer Closes $10 Billion Deal for Metsera, Wins Fierce Bidding War Against Rival Novo Nordisk

Pfizer has secured a major victory in the race for new weight-loss drugs. The U.S. drugmaker won a fierce bidding war against its rival, Denmark’s Novo Nordisk. Pfizer confirmed a deal to acquire the obesity drug developer, Metsera. The final value could reach over $10 billion.

Novo Nordisk’s bid was initially called superior. However, Pfizer sweetened its offer late in the process. Metsera ultimately accepted Pfizer’s proposal. The company cited major antitrust risks if it partnered with Novo Nordisk. The U.S. Federal Trade Commission (FTC) had expressed concerns over a deal involving Novo.

This acquisition gives Pfizer a critical entry point. It needs to establish a position in the highly profitable obesity drug market. Pfizer has faced past difficulties developing its own weight-loss treatments. Novo Nordisk announced it would exit the bidding. They stated they remain confident in their existing drug pipeline. Analysts say Pfizer paid a high price. The purchase price increased significantly from an earlier $7.3 billion offer.