The battle for weight-loss drug start-up Metsera intensified yesterday as two of the world’s biggest pharmaceutical giants sweetened their offers.
Wegovy and Ozempic maker Novo Nordisk raised its bid to £7.7billion just as Pfizer said it is willing to spend £6.2billion amid a war for supremacy in the fat-jab market.
Pfizer is looking to break into the market, while Novo is scrambling to revive its fortunes after losing ground to Mounjaro maker Eli Lilly. Novo gatecrashed the proposed takeover by Pfizer last week, setting off a legal fight.
Metsera, which was set up three years ago and has just 81 staff and a handful of drugs in early-stage development, yesterday said Novo’s latest offer was ‘superior’ to Pfizer’s.
But Pfizer boss Albert Bourla hit back, saying: ‘We believe that Novo Nordisk’s offer is illusory, and cannot constitute a superior proposal under the terms of our merger agreement with Metsera because it violates antitrust law.’
A Delaware judge yesterday said in a preliminary evaluation that she does not see the need to involve the court in the bidding war.
Bidding war: Wegovy and Ozempic maker Novo Nordisk raised its bid for weight-loss drug start-up Metsera to £7.7bn just as Pfizer said it is willing to spend £6.2bn
DIY INVESTING PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free fund dealing and investment ideas
interactive investor
interactive investor
Flat-fee investing from £4.99 per month
InvestEngine
InvestEngine
Account and trading fee-free ETF investing
Trading 212
Trading 212
Free share dealing and no account fee
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
Compare the best investing account for you
#Novo #Pfizer #sweeten #offers #bidding #war #fat #jab #minnowMetsera
