The acquisition battle between Pfizer and Novo Nordisk over U.S. biotech firm Metsera is quickly intensifying because the focused firm responded favorably to Novo Nordisk’s new acquisition proposal, calling it a “superior supply.”
On Nov. 4 (native time), Metsera stated in a press release that Novo Nordisk’s new proposal was “superior” to Pfizer’s revised supply. Accordingly, Pfizer has been given two enterprise days to submit a revised proposal, after which, if Metsera’s board continues to deem Novo’s proposal superior, it might terminate its current merger settlement with Pfizer.
Novo Nordisk reportedly valued Metsera at as much as $10 billion (roughly 13.8 trillion received), providing a 159 % premium over Pfizer’s earlier bid. Pfizer instantly pushed again. CEO Albert Bourla criticized Novo’s proposal through the firm’s third-quarter earnings name, saying, “Novo Nordisk’s supply violates antitrust legal guidelines and has little feasibility, so it can’t be thought-about a really ‘superior proposal.’” Pfizer filed a second lawsuit towards Novo Nordisk the day gone by, accusing the corporate of “anti-competitive conduct that hinders honest competitors.”
In its personal assertion, Novo Nordisk stated, “This acquisition proposal totally complies with related legal guidelines and rules, and the mix of our portfolios with Metsera’s will maximize synergy within the weight problems therapy area.” The corporate added, “It’s designed to ship long-term worth to each sufferers and shareholders.”
Based in 2022, Metsera is an rising chief within the weight problems therapy sector, growing oral and injectable new drug candidates based mostly on GLP-1 and amylin class intestine hormones. Its pipeline features a long-acting formulation that may be administered as soon as a month, providing better treatment comfort and improved therapy adherence in contrast with weekly formulations.
Pfizer, whose personal weight problems drug improvement has been delayed, goals to speed up its market entry by buying Metsera. In distinction, Novo Nordisk urgently must strengthen its pipeline as its market dominance based mostly on current merchandise – Wegovy, Ozempic – has been challenged by Eli Lilly’s Mounjaro.
