Pfizer’s Acquisition of Metsera: What It Means for the Future of Obesity Drug Investments
Obesity drug developer Metsera announced on Friday that it has reached an agreement to be acquired by Pfizer, following a competitive bidding war with Danish pharmaceutical company Novo Nordisk, known for its weight-loss treatments Ozempic and Wegovy.
Pfizer will purchase Metsera at a price of up to $86.25 per share, according to a statement from Metsera. This offer slightly surpasses Novo Nordisk’s most recent bid made on Tuesday, which valued Metsera at approximately $10 billion.
This acquisition marks Pfizer’s latest effort to strengthen its position in the growing weight-loss drug market, where it currently trails leaders Novo Nordisk and Eli Lilly, the maker of Mounjaro and Zepbound. It is notable that Metsera’s drug candidates are still undergoing clinical trials.
Pfizer expressed satisfaction with the agreement, stating, “We are pleased that we and Metsera have agreed to these revised terms, which will provide immediate and certain value to Metsera’s shareholders.”
The current deal’s valuation represents a significant increase from Pfizer’s September offer of $47.50 per share. Novo Nordisk’s subsequent unsolicited bids ignited a fierce competition between the two pharmaceutical giants.
In response to the bidding war, Pfizer filed two lawsuits in the U.S. District Court in Delaware against Metsera and Novo Nordisk. The lawsuits allege breach of contract and anticompetitive conduct. Pfizer further accused Novo Nordisk of attempting to preserve its market dominance by “capturing and killing a nascent American competitor.”
Novo Nordisk CEO Mike Doustdar addressed the rivalry at a White House press conference on Thursday, stating, “As of today, our bid is higher, and our message to Pfizer is that if they would like to buy the company then put your hand in the pocket and bid higher.”
On Friday, Metsera revealed it had been advised by the Federal Trade Commission that a transaction with Novo Nordisk could pose substantial legal and regulatory risks under U.S. antitrust laws.
The acquisition is subject to Metsera’s shareholder approval at a meeting scheduled for November 13, after which the deal with Pfizer will be finalized.
This report was originally published by The New York Times.
Special Analysis by Omanet | Navigate Oman’s Market
Pfizer’s acquisition of Metsera signals intensified global competition in the weight-loss drug sector, highlighting the immense value investors place on innovative healthcare solutions still in trial phases. For businesses and investors in Oman, this underscores an opportunity to explore partnerships or investments in cutting-edge biotech and pharmaceutical startups. However, the ongoing legal and regulatory challenges stress the importance of vigilant risk assessment and strategic positioning in markets subject to intense antitrust scrutiny.
