Pfizer lifted its full-year profit forecast for the second time in a row on Tuesday, buoyed by strong demand for its blockbuster heart treatment and blood thinner.
Pfizer said it filed a second lawsuit against Novo Nordisk and Metsera, alleging that the Danish drugmaker's attempt to outbid Pfizer to acquire the obesity biotech is anticompetitive. The new suit escalates a heated standoff between Pfizer and Novo Nordisk over Metsera, whose obesity pipeline could yield new competitors in the blockbuster weight loss drug market.
Novo Nordisk and Pfizer are showing some desperation in their gloves-off tussle for the obesity-drug assets of Metsera.
After reporting record revenue a few years ago, Pfizer has faced tougher times in recent quarters. Challenges include a decline in demand for coronavirus products and patent expirations on the horizon.
The lawsuit says Novo Nordisk's offer for drug startup Metsera isn't reasonably likely to be completed.
Pfizer on Friday filed a lawsuit against Metsera and Novo Nordisk , accusing them of breaking a merger agreement and interfering with the deal.
Pfizer's Q3 results are due on Nov. 4, with analysts eyeing $16.6B in sales and EPS of 66 cents as investors weigh the stock's next move.
Novo Nordisk has launched a rival bid for U.S. obesity biotech firm Metsera, directly challenging an existing offer from Pfizer.
Evaluate the expected performance of Pfizer (PFE) for the quarter ended September 2025, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
Denmark's Novo offers $56.50 a share in cash for Metsera, plus potentially a further $21.25 a share based on clinical and regulatory milestones.
Novo Nordisk said the proposal is currently subject to review by Metsera's board of directors.
Novo Nordisk (NYSE:NVO) has attempted to gatecrash Pfizer Inc (NYSE:PFE, ETR:PFE)deal to buy obesity drug developer Metsera Inc (NASDAQ:MTSR), with an unsolicited offer of $6.5 billion, rising to a potential $9 billion. The Danish drugmaker became Europe's largest company after being first to market with anti-obesity drugs but has lost its lead and its crown after being usurped by rival products.