Evening Briefing Europe

Novo and Pfizer Spar Over Metsera in Search for Obesity Drugs

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New Novo Nordisk Chief Executive Officer Maziar Mike Doustdar. — New Novo Nordisk Chief Executive Officer Maziar Mike Doustdar.
Photographer: Kelvin Chng/SPHOL

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By Caroline Alexander

October 30, 2025 at 5:08 PM UTC

Danish drug maker Novo Nordisk made an unsolicited bid for Metsera, offering at least $6.5 billion for the US biotech firm in an effort to torpedo an earlier agreed deal with Pfizer.

The tussle between Novo and Pfizer for a new class of weight-loss treatments follows setbacks for both in an obesity market that’s expected to reach $100 billion by 2030.