Bidding War for Metsera Heats Up: Pfizer and Novo Nordisk Battle for Obesity Drug Developer

Pfizer and Novo Nordisk are fiercely competing for the acquisition of obesity drug developer Metsera. Novo Nordisk's $10 billion offer is currently considered superior, intensifying a legal confrontation as both companies vie for dominance in the obesity drug market.

Pfizer, however, remains undeterred, having increased its bid to $8.1 billion and filed lawsuits against Metsera, its board, and Novo Nordisk to thwart the deal. On Tuesday, a Delaware judge expressed reluctance to involve the court but scheduled a hearing to review the process.

Both companies are motivated by the expanding obesity treatment market, projected to hit $150 billion annually by the next decade. While Pfizer deals with declining COVID-19 product sales and looming patent expirations, Novo seeks to regain its position amidst fierce competition from rivals like Eli Lilly.