Wall Street clash over Metsera goes to Pfizer, Europea Novo throws in the towel
US pharmaceutical giant Pfizer signed an agreement to acquire new anti-obesity drugs. Wall Street dispute closed
The game is closed. After days of Wall Street clashes and legal action, US pharmaceutical giant Pfizer signed an agreement to acquire Metsera, a company producing obesity drugs in development, winning a bidding war against Novo Nordisk, the Danish pharmaceutical company that produces the weight-loss treatments Ozempic and Wegovy.
The clash over anti-obesity drugs
New York-based Metsera has no products on the market, but is developing oral and injectable treatments. These include some potential treatments that could target lucrative areas such as obesity and diabetes.
The deal comes as Pfizer is attempting to develop its own presence in that market, several months after halting the development of a potential drug treatment for obesity.
In a statement released on Friday, Metsera said Pfizer will acquire the company for up to $86.25 per share, including $65.60 per share in cash and a conditional value right entitling holders to additional payments of up to $20.65 per share in cash.
The stop at Novo
Metsera cited the US antitrust risks associated with Novo's bid, choosing Pfizer as the 'best transaction for shareholders, both from the point of view of value and certainty of closing'.
