This marks the end of a bidding war for the US-based maker of an experimental weight-loss drug, News.Az reports, citing Bloomberg.
Novo, known for its popular weight-loss drugs Wegovy and Ozempic, pulled out of the race after Pfizer matched its latest offer. Concerns had been growing about the price tag for Metsera's unproven asset, with additional pressure from a potential regulatory issue flagged by the US Federal Trade Commission regarding the proposed deal structure.
Pfizer’s winning offer of $65.60 per share in cash, along with up to $20.65 per share contingent on milestones, is set to cap off a high-profile takeover battle. Despite Metsera's setback, Pfizer’s stock rose as much as 1% in premarket trading.
Novo Nordisk, which has made an unsolicited offer for Metsera since October, will continue exploring opportunities in the obesity and diabetes sectors but had initially viewed the acquisition as a secondary, rather than transformational, move. The company’s focus now shifts to upcoming clinical trials and its annual shareholder meeting.
Despite its recent setbacks, Novo remains well-positioned financially, with analysts estimating it has $53 billion in deal-making capacity.
