Pfizer Sues Metsera Over $8.5 Billion Bid Amid Obesity Drug Market Battle

Pfizer has filed a lawsuit against Metsera, claiming the company violated merger obligations by favoring Novo Nordisk's generous bid. Pfizer seeks to prevent Metsera from canceling their agreement. This move aligns with Pfizer's strategic entry into the burgeoning obesity drug market, aiming to strengthen its market position.

Pfizer has initiated legal proceedings against Metsera, alleging the breach of a merger agreement as Metsera favored a more lucrative offer from Novo Nordisk. The lawsuit, filed in Delaware, seeks to halt Metsera from annulling their existing agreement.

This legal dispute arises amidst Pfizer securing early antitrust approval for its $7.3 billion acquisition of Metsera from U.S. authorities, intending to expand into the lucrative obesity drug market. The industry is projected to reach a staggering $150 billion by the early 2030s.

Faced with declining COVID-related revenues and patent expirations, Pfizer is aiming to leverage Metsera's promising pipeline of experimental obesity treatments to bolster its product lineup, despite the competitive pressure from leading companies like Novo Nordisk and Eli Lilly.

(With inputs from agencies.)