Pfizer clinches deal for obesity drug developer Metsea after a bidding war with Novo Nordisk
- 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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DealbreakerPfizer’s Sweeter $10B Offer Beats Novo Nordisk in Bidding War for Obesity Biotech Metsera
Pfizer’s offer of up to $86.25 in cash for each share of obesity drugs developer Metsera share tops the up to $86.20 Novo Nordisk was willing to pay. The financial consideration and the greater certainly of a deal close tipped the balance in Pfizer’s favor, ending a bidding war for Metsera and its next-generation obesity medications. The post Pfizer’s Sweeter $10B Offer Beats Novo Nordisk in Bidding War for Obesity Biotech Metsera appeared first…
The New Nordisk manufacturer of the Ozempic tried to interfere in the process with an unrequested proposal
The new CEO is trying to stabilize the Danish pharmaceutical company after losing the deal with Metsera and a drop in share value.
Courted by both laboratories, Metera indicated its intention to accept a revised offer from Pfizer for up to $10 billion.
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