Pfizer's Legal Showdown: The $8.5 Billion Battle for Metsera

Pfizer has initiated a legal battle against Metsera and Novo Nordisk, accusing Metsera of violating a merger agreement due to Novo Nordisk's $8.5 billion bid being declared superior. Pfizer is calling on a Delaware court to prevent Metsera from ending their deal, seeking a temporary restraining order ahead of an upcoming shareholder vote.

In a parallel development, the U.S. Federal Trade Commission granted Pfizer early antitrust clearance for its planned $7.3 billion acquisition of Metsera. Despite this, Novo Nordisk, already a major player in the obesity drug market, is aggressively pursuing Metsera to regain lost market share, leading to claims by Pfizer of a competitive suppression attempt.

Negotiations have been intense, with both Pfizer and Novo Nordisk making multiple bids throughout the year. Pfizer argues Novo's late bid involves risky securities changes, while Novo counters that Pfizer's accusations are unfounded. The lawsuit brings to light U.S. foreign investment concerns, with Pfizer emphasizing its American roots against Novo's international standing.