"The bid comes weeks after Metsera agreed to a $7.3bn takeover from the US group Pfizer. Denmark's Novo Nordisk, which owns the weight-loss drugs Ozempic and Wegovy, lost out in a competitive auction processin September. Pfizer criticised the unsolicited bid, accusing Novo Nordisk of making a reckless offer and claiming it was an attempt by a company with a dominant market position to suppress competition in violation of law by taking over an emerging American challenger."
"Metsera is seen as a lucrative takeover target in part because of its promising pipeline of obesity drugs. The company has four ongoing clinical trials, including a weight-loss pill, a monthly injection, and two drugs that promote feelings of fullness using the hormone amylin. Some researchers say amylin could avoid the kind of muscle loss that has been a problem with existing medications."
Novo Nordisk launched a $9bn unsolicited offer for Metsera weeks after Metsera agreed to a $7.3bn takeover by Pfizer. The offer includes $56.50 a share upfront and $21.25 a share contingent on clinical and regulatory milestones, valuing Metsera at roughly $9bn if targets are met. Metsera runs four clinical trials for obesity treatments including a pill, a monthly injection, and two amylin-based drugs that may reduce muscle loss associated with current medications. Pfizer called Novo Nordisk's bid reckless and alleged the offer was structured to circumvent antitrust laws, and Pfizer has four business days to respond.
Read at www.theguardian.com
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