Pfizer Wins Metsera Bidding Battle Over Novo With Ultimate $10B Value Tag

Pfizer has gained the bidding battle with rival Novo Nordisk over weight problems biotech Metsera.

The ultimate worth agreed to by the 2 firms is $65.60 per share in money, or about $7.6 billion, plus an extra $20.65 in contingent worth rights (CVR), bringing the entire to $86.25 per share.

Metsera’s board of administrators reaffirmed its help for the corporate’s acquisition by Pfizer, noting that it “has decided that the revised phrases characterize the very best transaction for shareholders, each from the angle of worth and certainty of closing” in an announcement launched late Friday evening.

Metsera initially agreed to be acquired by Pfizer in September for $4.9 billion, with further CVRs down the road. On Oct. 30, Novo Nordisk tried to pinch Metsera with an $8.5 billion supply. Pfizer sued Novo to cease the deal, and the 2 firms made a sequence of counteroffers, upping the potential windfall for Metsera to upwards of $10 billion.

Correction (Nov 8): This text has been corrected to mirror the ultimate acquisition worth as $10 billion, fairly than $9 billion. BioSpace regrets the error.