Novo Nordisk Hikes Metsera Bid to Up to $10 Billion in Competition With Rival Pfizer

Novo Nordisk is raising the stakes in its push to outbid rival Pfizer for the development-stage drugmaker Metsera. Metsera says Novo is now offering to pay as much as $10 billion for Metsera, up from a previous bid for up to $9 billion that sparked litigation from Pfizer. Metsera said Pfizer also has changed an offer of $4.9 billion it made to in September to provide more cash up front. Metsera said Tuesday that the new Novo bid is superior, and Pfizer now has a window to negotiate. Pfizer Chairman and CEO Albert Bourla called the Novo offer “illusory.”