Novo Nordisk makes offer for Metsera, aiming to outbid Pfizer

Andrew Joseph covers health, medicine, and the biopharma industry in Europe. You can reach Andrew on Signal at drewqjoseph.45.

A bidding war has broken into the open for obesity-focused Metsera, with Novo Nordisk on Thursday saying it had made an offer for the biotech, a month after Pfizer announced its plan to purchase the firm. 

The Novo offer, what it called “an unsolicited proposal,” reflects the pressure pharma companies are under to gain an edge in the white-hot obesity market. 

Novo, once the competition’s pacesetter, has started to lag behind in sales of approved drugs versus rival Eli Lilly, and a host of other companies are aiming to bring next-generation weight loss treatments onto the market in the coming years.