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Pfizer Clinches Deal for Obesity Drug Developer Metsea After a Bidding War with Novo Nordisk
Pfizer won a competitive bidding war with Novo Nordisk and secured Federal Trade Commission approval for its $10 billion acquisition of Metsera, a start-up with promising obesity drugs.
- On Nov 7, Pfizer agreed to buy New York-based Metsera for US$10 billion after securing FTC clearance and Metsera’s board approval.
- Facing a rival bid, Novo Nordisk and Pfizer escalated offers after Pfizer initially agreed to buy Metsera for $70 a share in September, failing to block Novo in Delaware courts and suing on antitrust grounds.
- The announced price of US$86.25 a share includes US$65.60 cash plus up to US$20.65 in milestone payments, representing a 159% premium as Metsera shares rose to US$83.18 on Nov 7.
- Metsera said a Novo deal posed `unacceptably high legal and regulatory risks` after an US Federal Trade Commission call on Nov 7, and the US government ultimately shaped which bid could proceed.
- The deal positions Pfizer to capture a US$100 billion obesity market by 2030, facing patent expirations eroding over US$15 billion and acquiring Metsera’s three early- to mid-stage drugs.
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Weight-Loss Drug Startup Goes to Pfizer on $10B Bid
Pfizer has agreed to acquire weight-loss drug startup Metsera in a deal valued at more than $10 billion, surpassing rival Novo Nordisk after a competitive bidding process. The agreement, announced Friday, will see Pfizer pay $65.60 per share in cash plus a contingent value right of up to $20....
·Miami, United States
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Associated Press News+17 Reposted by 17 other sources
Pfizer clinches deal for obesity drug developer Metsea after a bidding war with Novo Nordisk
Pfizer has signed a deal to purchase Metsera Inc., an obesity drugmaker in the development stage, after winning a bidding war against Novo Nordisk.
·United States
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The pharmaceutical giant Pfizer is about to finalize the acquisition of the US biotech Metera after the withdrawal of Novo Nordisk's competing offer The way now seems clear for the
·France
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Coverage Details
Total News Sources51
Leaning Left8Leaning Right5Center10Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
L 35%
C 43%
R 22%
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