Novo Nordisk CEO Confident in Winning Metsera Bidding War
Nuevo Nordisk’s CEO declined to reveal if the Danish pharma giant will increase its bid for Metsera, but expressed confidence that the deal would be finalized. The company “feels this deal will be closed,” he stated.
Background of the Bidding Conflict
Last week, Novo Nordisk surprised the market by making a new offer to acquire Metsera, an obesity biotech firm. This move came despite Pfizer's earlier announcement over a month ago regarding its planned $4.9 billion acquisition of Metsera, with an additional $2.4 billion linked to milestone payments.
Legal and Financial Maneuvers
- Pfizer filed two lawsuits aimed at preventing Metsera from being taken over by Novo Nordisk.
- Both companies adjusted their offers following the escalation in competition.
- Currently, Novo Nordisk values Metsera at $10 billion in total equity, including upfront and milestone payments.
CEO Statement on Deal Confidence
“If we did not feel that we would be able to close the deal, we would probably not have entered the transaction.”
“We have discussed this with our external stakeholders, and feel that this deal will be closed.”
These comments were made by Novo CEO Mike Doustdar during the company’s third-quarter earnings call.
Summary
Mike Doustdar’s remarks underline Novo Nordisk’s strong belief in successfully acquiring Metsera amid fierce competition with Pfizer.
Author’s summary: Novo Nordisk’s leadership confidently anticipates closing the acquisition of obesity biotech Metsera, intensifying the high-stakes battle with Pfizer over the $10 billion deal.