NEW YORK / LONDON (IT BOLTWISE) – Pfizer has prevailed against Novo Nordisk in an intense bidding competition and agreed to take over biotech company Metsera. The deal, which could be worth more than $10 billion, strengthens Pfizer’s position in the growing obesity treatment market. The acquisition includes the promising drug MET-097i, which is in phase 2b study.
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Pfizer has prevailed against Novo Nordisk in an exciting bidding competition and agreed to take over the biotech company Metsera. The deal, which could be valued at over $10 billion, includes an upfront payment of $65.60 per share and a contingent appreciation of up to $20.65 per share. This acquisition significantly strengthens Pfizer’s position in the growing obesity treatment market.
The acquisition of Metsera is strategically important for Pfizer as it takes a significant step forward after several setbacks in obesity research and development. The centerpiece of Metsera’s pipeline is MET-097i, an injectable GLP-1 drug that is currently in Phase 2b trial and may only need to be administered once a month. This could give Pfizer a key advantage in the competition for innovative obesity treatments.
The bidding competition between Pfizer and Novo Nordisk was characterized by legal disputes and improved offers. Novo Nordisk recently submitted an offer of up to $86.20 per Metsera share, which was rejected by Metsera’s board due to legal and regulatory risks. The US Federal Trade Commission raised concerns about the structure of Novo Nordisk’s offer, which ultimately contributed to Pfizer’s success.
For Pfizer, the acquisition of Metsera means not only access to a promising drug, but also the opportunity to establish itself in the fast-growing market for obesity treatments. Experts see the takeover as an important step for Pfizer to assert itself against competitors such as Novo Nordisk and gain new market shares. Novo Nordisk’s decision not to further increase its offering paved the way for Pfizer to make this strategic acquisition.
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