Published by Global Banking & Finance Review®
Posted on November 3, 2025
2 min readLast updated: January 21, 2026
Add as preferred source on GoogleNovo Nordisk believes its $8.5 billion bid for Metsera won't face antitrust issues, despite Pfizer's legal challenge in the competitive obesity market.
COPENHAGEN (Reuters) -Denmark's Novo Nordisk said on Monday it is confident that its proposed takeover of U.S. drugmaker Metsera does not raise any antitrust issues.
Novo Nordisk last week launched a rival bid for obesity biotech Metsera, exceeding an offer from Pfizer as the drugmakers jostled for advantage in the highly lucrative market for weight-loss medications.
Pfizer in turn filed a lawsuit on Friday alleging breach of merger agreement obligations.
Novo Nordisk said it adhered to all the Pfizer merger agreement restrictions.
"This is an intensely competitive space, with at least a dozen other products being developed by major pharma companies. We are confident this transaction does not raise any antitrust issues," Novo said in an email statement.
Novo Nordisk, the company behind the blockbuster weight-loss drug Wegovy and related diabetes treatment Ozempic, bid up to $8.5 billion, with $6 billion upfront and later milestone payments, while Pfizer's bid was worth up to $7.3 billion, including milestones.
The clash marks an escalating battle for dominance in the obesity drug market some analysts forecast will reach $150 billion annually within a few years. Novo is seeking to defend its position against rising competition from Eli Lilly, while Pfizer aims to secure its entry into the weight-loss sector.
Metsera is working on experimental therapies that analysts say could generate $5 billion in sales.
Pfizer said Novo's bid was an illegal attempt by a dominant player to suppress competition in the fast-growing obesity market. Both Metsera and Novo have dismissed Pfizer's claims.
(Reporting by Jacob Gronholt-Pedersen and Essi Lehto; Editing by Terje Solsvik and Bill Berkrot)
Antitrust issues arise when a company's actions may reduce competition in a market, potentially leading to monopolistic practices that harm consumers and other businesses.
A merger agreement is a legal document that outlines the terms and conditions under which two companies agree to combine their operations into a single entity.
The obesity market refers to the industry focused on products and services aimed at treating or managing obesity, including medications, surgeries, and lifestyle programs.
Milestone payments are payments made when specific goals or milestones are achieved in a business agreement, often used in mergers and acquisitions.
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