Overview
- Pfizer will acquire Metsera for up to $86.25 per share, including $65.60 in cash and as much as $20.65 via contingent value rights.
- Novo Nordisk exited the bidding after Pfizer matched its valuation, following Metsera’s conclusion that Novo’s proposal carried unacceptably high legal and regulatory risks.
- Metsera said the FTC flagged potential antitrust issues with Novo’s two-step structure, a key factor in the board’s decision to back Pfizer’s amended terms.
- The transaction is slated to close promptly pending shareholder approval in mid-November and other customary conditions.
- The deal gives Pfizer a late-stage entry into the obesity drug market through Metsera’s Phase II GLP‑1 program, as Metsera shares fell up to 16% and Pfizer and Novo traded modestly higher.