Novo Nordisk tops Pfizer's Metsera bid with $9B offer
Novo Nordisk, the Danish pharma giant behind Ozempic, made a $9 billion bid to buy US biotech company Metsera—topping Pfizer's earlier $7.3 billion deal.
The offer is mostly cash upfront, with more possible if Metsera hits certain milestones.
After the news broke on Thursday, Metsera's board said they prefer Novo's proposal and gave Pfizer four days to respond.
Obesity drug race heats up as pharma giants clash
This is all about who leads the next wave of obesity drug treatments—a market projected to reach $150 billion by the early 2030s.
Novo wants Metsera's early-stage drugs to stay ahead in this space, while Pfizer called their rival's move "reckless" after dropping its own obesity drug earlier this year.
However it plays out, the winner could shape what future obesity therapies look like for millions worldwide.