Pfizer Triumphs in Bid for Metsera, Leaving Novo Nordisk Behind

Novo Nordisk saw a slight rise in shares after withdrawing its bid for U.S. weight loss drug company Metsera, losing out to Pfizer in a bidding war. Pfizer secured a $10 billion deal, marking a strategic entry into the obesity drug market, overcoming antitrust concerns that halted Novo's superior bid.

In a significant development in the pharmaceutical industry, shares in Novo Nordisk experienced an early rise on Monday after the company withdrew its bid for Metsera, a U.S.-based weight loss drug maker. The decision came following Pfizer's successful $10 billion acquisition deal, concluded late Friday.

Novo Nordisk, battling rival Eli Lilly in the competitive obesity drug sector, cited U.S. antitrust risks as the primary reason for stepping back, despite presenting a superior offer earlier in the bidding process. This move allows Pfizer to gain a foothold in the lucrative market, even though Metsera's drugs are still years away from market entry.

The bidding war resolution highlights strategic maneuvers in the global pharmaceutical landscape, with companies like Pfizer and Novo Nordisk vying for dominance in emerging drug markets. This acquisition is viewed as a significant blow to Novo as it continues efforts to strengthen its position against U.S. competitors.

(With inputs from agencies.)