Legal Battle Intensifies as Pfizer Sues Novo Over Biotech Takeover

Pfizer has launched a second lawsuit against Novo Nordisk over its $9 billion bid for biotech company Metsera. Pfizer accuses Novo of trying to stall the acquisition to suppress competition in the obesity drug market. The conflict continues with court hearings scheduled.

Pfizer intensified its legal feud with Danish drugmaker Novo Nordisk by filing a second lawsuit over a contentious $9 billion bid for biotech startup Metsera. Accusations of market manipulation emerged, as Pfizer claims Novo is attempting to stifle competition in the lucrative obesity drug sector.

Metsera had previously favored Novo's offer over Pfizer's earlier $7.3 billion proposal, prompting Pfizer to take legal action in Delaware, challenging Novo's tactics as anticompetitive. The escalating dispute will be reviewed by Delaware's Court of Chancery, with a court hearing set to take place on Tuesday.

In retaliation, Novo denies any wrongdoing, insisting its actions comply with contractual agreements. Amid the legal wrangle, Metsera's strategic importance grows as it develops new obesity treatments that promise monthly rather than weekly doses, posing a competitive threat to current market leaders Wegovy and Eli Lilly's offerings.

(With inputs from agencies.)