Metsera accepted the increased offer from Pfizer on Friday, citing antitrust risks associated with Novo Nordisk's proposal. The Danish company, which had previously offered better conditions, finally gave up the competition. In Saturday's statement, Novo Nordisk emphasized that it did not intend to increase its offer.
Read also: Pfizer's weight loss drug withdrawn. There were side effects
In September, Pfizer offered $7.3 billion. for the acquisition of Metsera, a manufacturer of anti-obesity drugs, but the entry of the Danish Novo Nordisk into the game forced the American giant to increase its offer by almost half. Ultimately, he will pay $10 billion.
Pfizer agreed to pay $86.25. per share in cash, representing a premium of 3.69%. compared to Friday's closing price of Metsera. The transaction value includes $65.60. per share and additional payments of up to $20.65. per share, depending on the fulfillment of certain conditions.
Metsera share quotes
|
Investing.com
Novo Nordisk withdraws from the race
Novo Nordisk, despite withdrawing from the bidding, emphasized that it still intends to develop its own products in the field of obesity treatment. The company expressed confidence that its offer was compliant with antitrust laws, although the US Federal Trade Commission pointed to potential risks associated with the transaction. In a statement on Friday, Metsera said Novo's proposal involved “unacceptably high legal and regulatory risks.”
The text continues below the video
In a statement, the Danish drugmaker emphasized that its offer reflected the “maximum value” of Metsera and that the transaction was not a priority for the company. “This was always an acquisition for Novo,” said a source close to the company.
Read also: Pfizer will offer cheaper drugs through Trump's website
The fight for Metsera is reminiscent of hostile takeovers of the past
Competition for Metsera, whose shares increased in value by almost 60%. over the past week, experts say resembled a fierce “Game of Thrones”-style takeover. Pfizer's former head of research and development, John LaMattina, compared it to Pfizer's acquisition of Warner-Lambert in 2000 for $90 billion.
Metsera's experimental obesity drugs, such as MET-097i, an injectable GLP-1, and MET-233i, a mimic of the pancreatic hormone amylin, could reach sales of $5 billion, according to analysts. annually. It is estimated that the market for anti-obesity drugs may reach USD 150 billion. at the beginning of the next decade.
