Novo Nordisk has entered the race to acquire U.S.-based obesity biotech firm Metsera, launching a rival bid that eclipses Pfizer’s earlier offer. The Danish drugmaker proposed a deal valued at up to $8.5 billion, including $6 billion upfront and additional milestone-based payments, outbidding Pfizer’s $7.3 billion offer.
Both companies have included contingent value rights tied to clinical and regulatory achievements, underscoring the high stakes in the fast-growing weight-loss drug market.