Bidding War Intensifies: Pfizer and Novo Nordisk Battle for Metsera

In a high-stakes corporate battle, Pfizer and Novo Nordisk are vying for control of obesity drug developer Metsera. As tensions escalate, both companies presented improved bids, with Novo's offer reaching $10 billion, deemed superior by Metsera.

This competitive skirmish erupted following Novo's unexpected move to outmaneuver Pfizer, who had a standing agreement with Metsera. Now embroiled in legal proceedings, Pfizer is attempting to block Metsera's deal with Novo, citing antitrust concerns.

Amidst declining sales and patent challenges, Pfizer raised its profit forecast but remains determined to capitalize on the burgeoning obesity treatment market. Novo, meanwhile, aims to counter rivals like Eli Lilly in its pursuit of market dominance.