Pfizer is set to acquire U.S. biotechnology company Metsera in a $10 billion deal, ending a fierce bidding battle with Danish rival Novo Nordisk.
Metsera, known for its cutting-edge obesity treatments, announced that its board had unanimously approved Pfizer’s improved offer of $86.25 per share, nearly doubling the valuation from their initial September agreement.
The acquisition is expected to close shortly after a shareholder meeting on November 13, pending approval.
Novo Nordisk, the maker of blockbuster weight-loss and diabetes drugs Wegovy and Ozempic, officially withdrew from the bidding on Saturday, saying it would “continue to assess opportunities” that align with its long-term strategy.
Metsera’s board cited antitrust risks linked to Novo Nordisk’s proposal as a key factor in choosing Pfizer’s offer. The U.S. Federal Trade Commission had reportedly raised concerns over regulatory hurdles that could complicate a merger with the Danish firm.
The deal marks a major strategic push by Pfizer into the booming obesity treatment market, which has become one of the most competitive and lucrative sectors in global healthcare.
According to the World Health Organization, over one billion people worldwide live with obesity, while more than 800 million are affected by diabetes, underscoring the enormous potential of this market.
