Pfizer Signs Agreement with Metsera, Outbidding Novo Nordisk

• Pfizer acquires Metsera for $86.25 per share
• The agreement follows competition with Novo Nordisk
• Metsera develops new drugs for obesity and diabetes

The pharmaceutical giant Pfizer has signed an agreement to acquire Metsera Inc., which specializes in the development of drugs for obesity, outbidding the Danish company Novo Nordisk, known for its weight-loss medications Ozempic and Wegovy.

Metsera, based in New York, currently has no products on the market, but is developing oral and injectable preparations that could become effective treatments for obesity and diabetes.

This agreement comes after Pfizer halted the development of a potential obesity treatment pill, and the company aims to solidify its position in this market.

According to the announcement from Metsera, Pfizer is acquiring the company at a price of $86.25 per share, which consists of $65.60 in cash and potential additional payments of up to $20.65 per share.

Metsera indicated in the announcement that the terms of Pfizer's proposal are the best for shareholders from the standpoint of value and completeness in closing the deal.

This agreement was reached three days after Novo Nordisk raised its proposal to $10 billion for Metsera, which exceeds its previous proposal of $9 billion that had already triggered a legal process from Pfizer.

Pfizer also adjusted its proposal last month, seeking to provide a larger upfront cash payment.

Pfizer confirmed that the terms of the agreement are subject to approval and expects it to be finalized following the shareholders' meeting of Metsera on November 13.

On Saturday, Novo Nordisk announced that it would not increase its proposal and is exiting the competition for Metsera.

Tags: Economy