Workflow
Obesity market acquisition
icon
Search documents
Pfizer hits Novo Nordisk and Metsera with lawsuit amid bidding war
Yahoo Financeยท 2025-11-03 12:44
Core Viewpoint - Pfizer has initiated a lawsuit against both Metsera and Novo Nordisk amid a competitive bidding war for Metsera, which is focused on obesity treatment [1][2][3] Group 1: Legal Actions and Allegations - The lawsuit, filed in the Delaware Court of Chancery, accuses Novo Nordisk and Metsera of breaching the contractual merger agreement, including claims of "breach of contract, breach of fiduciary duty, and tortious interference" [2] - Pfizer alleges that Novo Nordisk's acquisition offer for Metsera is an "illegal attempt" to suppress competition in the obesity market, where Novo Nordisk currently holds a dominant position [3] - Pfizer disputes Metsera's claim that Novo Nordisk's proposal is superior, arguing that it cannot be considered superior due to regulatory risks that may prevent the transaction from being completed [4] Group 2: Acquisition Plans and Market Context - Despite the ongoing legal disputes, Pfizer intends to proceed with its acquisition of Metsera, with a stockholder meeting scheduled for November 13 to potentially finalize the deal [5] - Pfizer has filed a motion for a temporary restraining order to prevent Metsera from terminating the merger agreement, allowing Pfizer time to present its case [6] - The competitive landscape is intensifying as the obesity market is projected to grow significantly, with GlobalData estimating its worth to reach $206.5 billion by 2031, up from $12.3 billion in 2021 [8]