Pfizer has filed a lawsuit against Metsera and Novo Nordisk during a bidding war for the obesity-focused biotech, following Novo Nordisk’s last-minute interception of Pfizer’s acquisition deal for up to $7.3bn. Novo Nordisk countered with a $9bn offer, sparking legal allegations of breach of contract and anti-competitive behavior.

Pfizer claims Novo Nordisk’s acquisition offer for Metsera is illegal and unlikely to be completed, refuting Metsera’s assertion that it’s superior. Metsera disagrees with Pfizer’s complaint and plans to address it in court. Despite the legal dispute, Pfizer plans to proceed with the acquisition following a stockholder meeting on 13 November.

In an effort to block further interference, Pfizer has requested a temporary restraining order on Metsera to prevent termination of the merger agreement. Despite Novo Nordisk’s attempt to intercept the deal, the US Federal Trade Commission granted early termination, signaling Pfizer’s potential success in the acquisition.

GlobalData forecasts the metabolic health sector to reach $206.5bn by 2031, driving competition among key players like Eli Lilly and Novo Nordisk. Pfizer aims to enter the market with its own assets, including an oral GLP-1RA, after discontinuing a liver-issue-causing obesity pill. If the Metsera acquisition is completed, Pfizer could commercialize new obesity drugs.

Novo Nordisk and Eli Lilly dominate the GLP-1RA market, with high sales performance boosting revenue projections. Pfizer’s lawsuit against Metsera and Novo Nordisk reflects the intensifying competition in the metabolic health sector, as companies vie for market share and dominance in the growing obesity field.

Read more at Yahoo Finance: Pfizer hits Novo Nordisk and Metsera with lawsuit amid bidding war