Morningstar

Metsera Shares Fall Premarket as Novo Throws in Towel on Bidding War

Provided by Dow Jones

By Colin Kellaher 




  Metsera shares fell sharply in premarket trading Monday after the weight-loss drug startup struck a revised deal to be acquired by Pfizer, prompting Danish drugmaker Novo Nordisk to drop out of a bidding war. 



  Pfizer late Friday said it will now pay up to $86.25 a share, or around $10 billion, for Metsera, including $65.60 a share upfront and a contingent value right worth up to $20.65 a share. 



  Shares of Metsera, which had risen to as high as $83.86 on Friday before closing at $83.18, were recently changing hands at $70.17, down nearly 16%, in premarket trading. 



  The revised deal is a nickel better per share than the most recent bid from Novo, which on Saturday said it wouldn't raise its offer. 



  Pfizer in September agreed to buy Metsera for up to $7.3 billion, but Novo stepped in with an offer of up $9 billion, setting off the bidding war. 





  Write to Colin Kellaher at colin.kellaher@wsj.com 





  (END) Dow Jones Newswires



  November 10, 2025 08:08 ET (13:08 GMT)


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