Novo Nordisk shares rise after dropping Metsera bid

Metsera

10/11/2025 08:03

Corrects dateline to November 10 from November 7

COPENHAGEN, Nov 10 (Reuters) - Shares in Novo Nordisk  rose in early trade on Monday, after the Wegovy-maker on Saturday dropped its bid for U.S. weight loss drug company Metsera, ending a bidding war with rival Pfizer PFE.N.

Novo's shares traded 2.9% higher at 0801 GMT.

U.S. drugmaker Pfizer said late on Friday it had clinched a $10 billion deal for Metsera, in a blow to Novo as the Danish group tries to claw back lost ground against U.S. rival Eli Lilly LLY.N.

Metsera accepted a sweetened offer from Pfizer late on Friday, citing U.S. antitrust risks in Novo's bid that it had previously called superior. The Danish obesity drug behemoth said on Saturday it would exit the race.

The bidding war win hands Pfizer a way into the lucrative obesity drug market, even if Metsera's treatments remain years from hitting the market.

 (Reporting by Stine Jacobsen, editing by Terje Solsvik)

 ((stine.jacobsen@thomsonreuters.com; +45 2156 9010))