Pfizer filed a lawsuit against Metsera and Novo Nordisk, claiming Metsera breached merger agreement obligations by accepting Novo’s $8.5 billion bid. Pfizer seeks a restraining order to block the termination of the agreement. Metsera gave Pfizer until Tuesday to raise its offer. Pfizer argues Novo’s bid bypasses antitrust regulations, posing regulatory risks.

Pfizer received early antitrust clearance for its $7.3 billion acquisition of Metsera from the FTC. Pfizer aims to enter the obesity market, projected to reach $150 billion by the early 2030s. Facing revenue declines and patent expirations, Pfizer is seeking to develop weight-loss treatments. Novo Nordisk hopes to regain market share with Wegovy and Ozempic.

Metsera’s pipeline includes GLP-1 and amylin-based therapies with estimated peak sales of $5 billion. Metsera and Novo did not respond to Reuters’ requests for comment. Pfizer’s lawsuit claims Novo’s bid could have antitrust implications and regulatory risks. Pfizer aims to offset revenue losses and patent expirations through acquisitions and market expansion.

Read more at Yahoo Finance: Pfizer sues Metsera, Novo Nordisk over rival obesity drug bid