Novo Nordisk Reports $9B Bid Challenging Pfizer Metsera Obesity Deal

Novo Nordisk has made a bold unsolicited bid of up to $9 billion to acquire U.S. biotech firm Metsera, aiming to disrupt Pfizer's earlier $4.9 billion agreement for the company and strengthen its position in the lucrative obesity drug market. This move comes amid increasing competition from Pfizer and Eli Lilly in the rapidly expanding weight-loss drug sector, which is projected to reach $100 billion by 2030. Novo's bid includes immediate cash payments and milestone-based contingent value rights, valuing Metsera shares significantly higher than Pfizer's offer. Pfizer has strongly condemned Novo's proposal as reckless, potentially illegal, and an attempt to suppress competition, asserting it violates antitrust laws. Novo's aggressive strategy reflects internal pressure to regain leadership in obesity treatments after losing ground to rivals, with new leadership pledging faster action and innovation. The bidding war underscores the high stakes in obesity drug development and signals an intensifying race for dominance in this profitable healthcare frontier.