Antitrust Battle Ignites as Pfizer Obstructs Novo's $9 Billion Metsera Acquisition

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Antitrust Battle Ignites as Pfizer Obstructs Novo's $9 Billion Metsera Acquisition

Bitget-RWA2025/11/06 08:30

By:Bitget-RWA

- Novo Nordisk's $9B Metsera acquisition faces Pfizer lawsuits alleging antitrust violations and breach of contract under U.S. antitrust laws. - Pfizer claims the deal delays GLP-1 competition and binds Metsera to restrictive covenants, while Novo dismisses allegations as "baseless" and confident in antitrust compliance. - Novo cuts $8B annual costs, launches Wegovy pill, and partners with Costco/Walmart to counter 9% market share loss amid U.S. pricing pressures and patent expirations. - The obesity drug

Novo Nordisk, the Danish pharmaceutical leader known for its best-selling weight-loss medications Wegovy and Ozempic, is facing a twofold challenge as it works to maintain its top position amid ongoing lawsuits and updated financial projections. The company’s planned $9 billion purchase of biotech company

Metsera

has come under heavy examination, with

Pfizer

initiating two legal actions that accuse Novo of anti-competitive behavior and violating contractual agreements, according to a

PharmExec article

. These lawsuits, which cite the Sherman and Clayton Acts, seek to prevent Novo’s acquisition and to uphold Pfizer’s initial $7.3 billion bid for Metsera, as detailed by

Seeking Alpha

Pfizer contends that

Novo

Nordisk’s deal structure is intended to postpone Metsera’s participation in the GLP-1 drug market, thereby limiting competition and safeguarding Novo’s market dominance, according to a

Yahoo News story

. The complaint alleges that Novo’s upfront payment of $6.5 billion to Metsera—prior to regulatory clearance—binds Metsera to restrictive terms that could impede its research and development. Novo, on the other hand, has called these accusations “without merit,” maintaining that it has followed the Pfizer merger agreement and is confident the deal meets antitrust standards, as reported by

Global Banking & Finance

. Metsera’s board has also dismissed Pfizer’s arguments, claiming Pfizer is trying to “use litigation to force a lower purchase price.”

This legal dispute highlights the enormous stakes in the obesity medication industry, where experts predict annual sales could climb to $150 billion in the near future. Novo’s intended acquisition of Metsera would strengthen its development pipeline with new therapies that could bring in $5 billion in revenue. At the same time, Pfizer’s strategy to enter this market depends on securing Metsera to advance its own weight-loss drugs, a key move as it faces patent losses and shrinking income from older medicines.

On the financial front,

Novo Nordisk

posted robust third-quarter numbers, with sales rising 15% and operating profit up 10% for the first nine months of 2025, according to its

Q3 2025 earnings highlights

. Still, the company has lowered its full-year outlook, citing stronger competition and mounting pricing challenges. It now anticipates sales growth of 8–11% (at constant exchange rates) and operating profit growth of 4–7%, a reduction from earlier estimates, as noted in a

BioSpace press release

. These changes reflect difficulties in the U.S. market, where compounded GLP-1 drugs and regulatory obstacles, such as price controls from the Inflation Reduction Act, are putting pressure on profits, according to

GuruFocus

To address these challenges, Novo is implementing an $8 billion annual cost-saving plan and reducing its global workforce by 9,000, as highlighted in its Q3 2025 earnings report. The company also revealed new product launches, including an oral version of Wegovy, and has formed partnerships with major retailers Costco and Walmart to broaden its market reach, according to an

earnings call transcript

. These initiatives are designed to recover from a 9% decline in Novo’s market share in the diabetes and obesity space over the past year, the company stated in its earnings call.

As the legal contest over Metsera continues, Novo Nordisk’s success will depend on how well it manages legal risks while driving innovation to stay ahead in this fast-changing industry.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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