Novo, Pfizer Are Battling To Buy The Future Of Weight-Loss — But Viking Already Owns It

Core Insights - Pfizer is suing Metsera Inc to block a takeover by Novo Nordisk, indicating a fierce competition in the obesity drug market [1][3] - Novo Nordisk has increased its bid for Metsera to $86.20 per share, valuing the company at approximately $10 billion, while Pfizer's offer is around $70 per share [3] - Viking Global, a hedge fund led by Andreas Halvorsen, holds a significant position in Metsera, having initially invested at an average price of $27.22, which has now more than doubled [4][6] Company Actions - Pfizer's lawsuit is described as a reaction to Novo Nordisk's aggressive bid, highlighting the stakes involved in the obesity treatment sector [3][6] - Novo Nordisk's bid includes a contingent value right of up to $24 in cash, showcasing its commitment to acquiring Metsera [3] Market Dynamics - The competition between Pfizer and Novo Nordisk reflects the high stakes in the obesity drug market, particularly in light of the success of Novo's products like Ozempic and Wegovy [3][6] - Viking Global's strategic position in Metsera suggests that hedge funds are capitalizing on the ongoing battle between the pharmaceutical giants [4][6]