Pfizer Ups Bid to Compete with Novo Nordisk for Metsera in $10 Billion Obesity Drug Deal
Nov 6, 2025
Pfizer has increased its efforts to acquire Metsera, a U.S. biotech company focused on obesity drugs. The company recently removed some conditions from its takeover offer and is preparing to raise its bid, according to news reports and a letter Pfizer sent to a Delaware judge.
The battle for Metsera has intensified, with Danish pharmaceutical company Novo Nordisk also offering $10 billion for the company. Metsera is now weighing rival offers from the two drugmakers.
Analysts note that Pfizer's actions could put it ahead in the bidding war for Metsera. The competition centers around gaining access to Metsera's promising obesity drug assets.
Following reports of Pfizer matching Novo Nordisk's $10 billion bid, shares of Metsera rose sharply.
What does Metsera do?
Metsera is a biotech company that develops drugs to treat obesity.
Why are Pfizer and Novo Nordisk interested in Metsera?
Both companies want to acquire Metsera to add its promising obesity drug products to their own portfolios.
What does it mean that Pfizer removed some conditions from its bid?
Pfizer made its offer more attractive to Metsera by removing requirements that could slow down or complicate a potential deal.
What happens next for Metsera?
Metsera will review the competing offers from Pfizer and Novo Nordisk before deciding which to accept.
Sources
Pfizer says it removed some conditions from its Metsera bid
Reuters
Reuters
Pfizer has removed some conditions in its bid for Metsera as it tries to overcome a rival $10 billion bid by Novo Nordisk for the obesity drug developer, the U.S. drug giant said in a letter to a Delaware judge on Wednesday.
Pfizer preparing to raise its bid for Metsera, WSJ reports
Reuters
Reuters
Pfizer is preparing to sweeten its offer again for Metsera , the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
Expect Pfizer bid to beat Novo for Metsera, says BMO's Evan David Seigerman
CNBC Television
CNBC Television
Evan David Seigerman, BMO, joins 'Fast Money' to talk bidding wars in the pharma space, Novo Nordisk dropping on earnings, and more.
Metsera weighs rival bids from Pfizer, Novo in $10 billion obesity drug battle
Reuters
Reuters
A bidding war over U.S. biotech Metsera was coming to a head on Thursday, with Danish drugmaker Novo Nordisk locked in a $10 billion battle with U.S. rival Pfizer to win Metsera's obesity drug assets.
'It's Getting Ugly,' Analyst Says As Pfizer Escalates Its Gloves-Off Fight For M...
Investors Business Daily
Investors Business Daily
Metsera stock surged Thursday on reports Pfizer has matched Novo Nordisk's $10 billion bid to buy the obesity-focused biotech.
Pfizer To Raise Metsera Bid After Court Denies Attempt To Block Rival Deal
Benzinga
Benzinga
The Delaware Chancery Court denied Pfizer Inc.'s (NYSE:PFE) request for a temporary restraining order to prevent Metsera, Inc. (NASDAQ:MTSR) from terminating the existing merger agreement in favor of a competing proposal from Novo Nordisk A/S (NYSE:NVO).
What is Metsera, the target in Pfizer's and Novo Nordisk's bidding war?
Reuters
Reuters
Pfizer and Novo Nordisk are locked in a bidding war for biotech firm Metsera as the pharmaceutical giants seek to augment their pipeline in the booming weight-loss drug market.
Novo CEO says its bid for Metsera is higher
Reuters
Reuters
Novo Nordisk CEO Mike Doustdar said during a White House event on Thursday that the company's bid for obesity biotech Metsera is higher than the one from rival Pfizer Inc. , which has sued both Metsera and Novo over the terms of their rival deal.
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