US EditionPharma Giants Pfizer and Novo Nordisk Battle Over Obesity Drug Innovator Metsera
Pfizer accuses Novo Nordisk of anticompetitive conduct to block a $7.3 billion Metsera acquisition that could challenge GLP-1 drug market dominance, Pfizer said.
- On Monday, Pfizer filed a second antitrust lawsuit in the U.S. District Court for the District of Delaware, alleging Novo Nordisk's attempt to outbid Pfizer violates the Clayton Antitrust Act.
- Novo Nordisk launched a takeover bid on Thursday valuing Metsera at around $6 billion, triggering a four business days renegotiation deadline and following Pfizer's earlier $4.9 billion offer with potential total consideration up to $7.3 billion.
- Pfizer's new filing broadens allegations to include Metsera's controlling stockholders and names Validae Health, Population Health Partners, and two ARCH Venture funds as co-conspirators under the Clayton Antitrust Act.
- Metsera said `Pfizer is trying to litigate its way to buying Metsera for a lower price than Novo Nordisk` and will address the claims in court, as the dispute escalates.
- Pfizer lacks a marketed weight-loss product and targeted Metsera for two late-stage candidates, whose GLP-1 agonist and amylin analogue offer once-monthly dosing versus weekly rivals, with analysts estimating $5 billion peak sales.
24 Articles
24 Articles
Pharma Giants Pfizer and Novo Nordisk Battle Over Obesity Drug Innovator Metsera
The competition between Pfizer and Novo Nordisk over obesity drug developer Metsera escalated, with Novo's $10 billion offering deemed superior. Despite legal challenges from Pfizer, Novo continues to challenge it in the weight-loss market. Pfizer's financial outlook shows optimism with raised profit forecasts and strong commercial performance.
Novo Nordisk, Pfizer sweeten bid for Metsera as bidding war heats up
(Reuters) -Novo Nordisk and Pfizer have revised their bids for Metsera, the obesity drug developer said on Tuesday. Novo’s revised offer brings the deal value to about $10 billion, while Pfizer is now willing to shell out $8.1 billion. The revised bids come as both companies are engaged in a public dispute to acquire Metsera. Pfizer has filed two lawsuits against Metsera, its board, and Novo Nordisk. The first lawsuit, filed on Friday, claims No…
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