Metsera Offers Pfizer a Two-Day Window to Respond
The competition among global pharmaceutical companies to acquire next-generation obesity drug developers is intensifying.
On November 4 (local time), Metsera, a U.S.-based obesity drug developer, announced in a press release that Novo Nordisk had revised its offer to acquire the company for a total of 10 billion dollars (approximately 14.4 trillion won).
Previously, in September, Pfizer announced that it would acquire Metsera for a total of 7.3 billion dollars. After Pfizer’s acquisition announcement, Novo Nordisk countered with a higher offer of 9 billion dollars to acquire Metsera.
In response, Pfizer argued that Novo Nordisk’s acquisition attempt was unfair and raised its bid to 8.1 billion dollars. Novo Nordisk then further increased its offer to 10 billion dollars.
On this day, Metsera notified Pfizer of Novo Nordisk’s proposal and gave Pfizer a two-day window to respond with a counteroffer. Metsera also stated that if Pfizer did not make a meaningful revised proposal, the existing contract would be terminated.
Pfizer has filed a lawsuit, claiming that the termination of its contract with Metsera is unjust. Additionally, Pfizer filed a separate lawsuit, arguing that Novo Nordisk’s acquisition of Metsera would undermine market competition.
After the clinical trial of Pfizer’s self-developed obesity drug danuglipron ended in failure, the company has been seeking to enter the obesity drug market through mergers and acquisitions (M&A). Metsera, which Pfizer is attempting to acquire, possesses a variety of obesity drug candidates, including several experimental treatments such as injectable drugs that require fewer doses compared to competitors’ medications.
Novo Nordisk, the developer of the obesity drug Wegovy, has recently been assessed as losing momentum in growth, falling behind its competitor Eli Lilly’s Zepbound. Bloomberg News analyzed, “Novo Nordisk’s acquisition proposal for Metsera is an aggressive strategy to catch up with Eli Lilly.”
According to U.S. investment bank TD Cowen, the global obesity drug market is expected to reach 139 billion dollars by 2030.
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