Pfizer Sues Novo Nordisk, Alleging $9B Metsera Bid Is A Stall Strategy

Benzinga

Pfizer sued Novo Nordisk, accusing it of using a $9 billion rival bid for Metsera to delay Pfizer’s $7.3 billion acquisition and stifle obesity-drug competition. Novo defended its offer as superior and compliant, while Metsera urged a judge to reject Pfizer’s attempt to block the deal.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Pfizer filed an antitrust lawsuit Monday accusing Novo Nordisk of using its $9 billion bid for

00:07Meta Serra to stall, not compete. 3, 2, 1. Pfizer filed an antitrust lawsuit Monday accusing

00:16Novo Nordisk of using its $9 billion bid for Meta Serra to stall, not complete the deal,

00:21aiming to suppress obesity drug competition, according to Reuters. Pfizer's $7.3 billion

00:26deal from Meta Serra faces a challenge after Novo Nordisk under new board control and a rival

00:31bid deemed superior to get Pfizer until Tuesday to respond. Meta Serra urged a Delaware judge to deny

00:37Pfizer's request to block Novo's bid, accusing Pfizer of delay tactics to lower its takeover price

00:42and calling its allegations nonsense. Novo said its offer backed by its new board exceeds Pfizer's

00:48and complies with merger restrictions. For all things money, visit Benzinga.com.

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