Pfizer Sues to Block Novo Bid for Obesity Drugmaker Metsera (3)

Pfizer Inc. sued Metsera Inc. and rival drugmaker Novo Nordisk A/S to block the Danish company’s rival bid for the obesity startup.

In a statement Friday, Pfizer said the Novo offer can’t qualify as a “Superior Company Proposal” under the merger agreement, in part because it’s not likely to survive regulatory review. Pfizer is asking the Delaware Court of Chancery to block Metsera for now from closing a deal with Novo to allow Pfizer time to be heard.

In a related move, earlier Friday Pfizer announced that US antitrust enforcers had cleared it to proceed with its offer to Metsera. ...