Metsara, the maker of blockbuster obesity drugs Ozempic and Wegovy, announced a new acquisition deal with Pfizer on November 7th, 2025. Pfizer will acquire Metsara for approximately $86.25 a share, or approximately $10 billion. This caps off a months-long dispute wherein Pfizer’s originally announced acquisition of Metsara was put into jeopardy after Novo Nordisk initiated a bidding war for the company.

As recently as November 4th, Novo Nordisk had offered a deal valuing the company at $86.20 per share, per a press release from Metsara. That offer was the latest in a series of volleys between the two companies following Pfizer’s original agreement to acquire the company this past September for $47.50, or approximately $4.9 billion.

On October 31st, Pfizer initiated a suit against Meetsara, the company’s board of directors, and Novo Nordisk for infractions related to breaching the merger agreement. The company followed with a second suit on November 3rd, alleging federal antitrust claims against Metsara, its controlling stockholders, and Novo Nordisk, alleging that the consolidation in the GLP-1 market would harm U.S. consumers.

According to Metsara, the U.S. FTC called to warn the company about potential risks if it proceeded with the Novo Nordisk deal under U.S. antitrust laws. The board of directors deemed that this presented “unacceptably high” legal and regulatory risks to Metsara and its shareholders, as well as the potential for the initial dividend to either not be paid or rescinded following legal challenges.

The latest deal will see Pfizer pay $65.60 per share in cash and a contingent value right entitling holders to additional payments of up to $20.65 per share in cash. Further details of the deal, including an anticipated closing date, are expected to be announced following a stockholder meeting on November 13th.