Pfizer Battles Legal Storm Over Metsera Merger: A High-Stakes Court Drama

Pfizer has initiated legal proceedings against Metsera and Novo Nordisk, alleging that Metsera breached their merger agreement. Pfizer's lawsuit seeks to block Metsera from terminating the agreement in favor of a higher offer from Novo Nordisk, arguing it threatens competition within the obesity drug market.

This legal confrontation arises as Pfizer secures early antitrust clearance for its $7.3 billion acquisition bid for Metsera from the U.S. Federal Trade Commission. The FTC's expedited decision came ahead of schedule, a rarity in regulatory processes.

Pfizer accuses Novo Nordisk of circumventing antitrust scrutiny with a merger structure that includes a controversial special dividend, contending that Metsera's board had previously dismissed a similar offer from Novo over the same regulatory qualms.