Overview
- Novo Nordisk offered $56.50 per share in cash plus contingent value rights of up to $21.25, using a two‑step structure that includes non‑voting preferred stock.
- Metsera notified Pfizer that the bid is a “superior company proposal,” starting a four‑business‑day window for Pfizer to respond under their $47.50‑per‑share agreement.
- Pfizer labeled the offer reckless and unlawful, argued the structure seeks to evade antitrust laws, and signaled it may pursue legal action to enforce its deal.
- The target assets include once‑monthly GLP‑1 candidate MET‑097i, which showed mid‑stage data with average weight loss of up to about 14% at the highest dose, plus other peptide programs.
- Markets moved on the news, with Metsera shares up roughly 21%–24% and Novo Nordisk down more than 2% in Copenhagen trading.