Pfizer (PFE) is considering suing Metsera (MTSR) and potentially Novo Nordisk (NVO) after the Danish drugmaker topped Pfizer’s offer.
Pfizer (PFE) argues that the structure of the deal skirts regulatory approvals and was previously rejected by Metsera (MTSR) as being too risky, according to a Semafor report on Thursday, which cited a person familiar with the matter.
Pfizer earlier called the bid ” an attempt by a company with a dominant market position to suppress competition in violation of law by taking over an emerging American challenger,” the drugmaker said in a statement on Thursday. “It is also structured in a way to circumvent antitrust laws and carries substantial regulatory and executional risk,
A potential lawsuit comes after Metsera (MTSR) earlier confirmed receipt of an unsolicited buyout proposal from Novo Nordisk (NVO), declaring the bid as a “superior” offer.
Novo Nordisk’s offer values Metsera at up to $77.75 a share, a total of ~$9 billion, representing an approximate 133% premium to Metsera’s closing price as of September 19, 2025, the last trading day before the Pfizer transaction was announced.