Metsera, based in New York, has no products on the market, but it is developing oral and injectable treatments. That includes some potential treatments that could target lucrative fields for obesity and diabetes.
Metsera cited U.S. antitrust risks in Novo’s bid, saying in its statement that the board has determined Pfizer’s revised terms represent “the best transaction for shareholders, both from the perspective of value and certainty of closing.”
New York-based Pfizer said in an email that it was happy with the terms of the deal, and expects to close the transaction shortly following the Metsera shareholder meeting on Nov. 13.
Novo’s proposed deal had involved paying $62.20 in cash for each Metsera share, up from its previous bid of $56.50. The Danish drugmaker planned to tack on a contingent value right payment of $24, another improvement from its previous bid, if certain development and regulatory milestones were met.
