Morningstar

Novo Nordisk Moves to Outbid Pfizer With Up to $9 Billion Offer for Obesity Drug Developer Metsera

Provided by Dow Jones Oct 30, 2025, 10:30:00 AM

By Dominic Chopping

Novo Nordisk launched a bid valued at up to $9 billion for obesity-drug developer Metsera, hoping to trump an already agreed-on deal Pfizer made for the U.S. company last month.

The Danish drugmaker said it offered $56.50 a share in cash for Metsera, plus potentially a further $21.25 a share based on clinical and regulatory milestones.

The proposal is currently subject to review by the Metsera board of directors, Novo Nordisk said.

The move comes after Pfizer last month agreed on a deal valued at up to $7.3 billion for the company.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

October 30, 2025 06:30 ET (10:30 GMT)

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