Pfizer files another lawsuit against Metsera, Novo Nordisk

Pfizer is leaving no stone unturned in its efforts to prevent Novo Nordisk from stealing off with Metsera, the weight-loss therapy developer it is hoping to acquire in a deal worth up to $7.3 billion.

After filing one lawsuit to try to block Novo Nordisk's $9 billion effort to trump the takeover, Pfizer has returned to the courts with another, accusing Metsera and Novo Nordisk of anticompetitive conduct, and extending its legal action to include Metsera's controlling shareholders.

The latest challenge in the US District Court for the District of Delaware asserts that Novo Nordisk's bid "constitutes an anticompetitive action by Novo Nordisk to protect its dominant market position in GLP-1s by capturing and killing a nascent American competitor before it gains the support of Pfizer, one of America's leading pharmaceutical companies."

That antitrust angle was covered in the earlier complaint, filed in the Delaware Court of Chancery, which sought a temporary restraining order to block Metsera from terminating the merger deal and give Pfizer time to have its position heard.

Metsera – which has told Pfizer it considers Novo Nordisk's offer to be superior and is entitled to terminate their merger agreement – has now issued a statement on the first lawsuit, saying merely that it "disagrees with the allegations" made and will address them in court.

The second lawsuit alleges that Novo Nordisk's offer violates the Clayton Antitrust Act, which prohibits mergers, acquisitions, and certain joint ventures where the effect may be to substantially lessen competition, according to Pfizer.

That is because of "the anticompetitive effects it would have in the GLP-1 drug markets to the detriment of millions of Americans who suffer from obesity, diabetes, and other metabolic conditions," said the company.

Pfizer doesn't currently have a product in the weight-loss category, having run into some setbacks with its in-house pipeline of candidates, so it looked to the acquisition of Metsera as a shortcut to getting two candidates ready for late-stage development.

Metsera has a GLP-1 agonist and an amylin analogue that are ready for phase 3 and could offer less frequent, once-monthly dosing than current drugs, such as Novo Nordisk's Wegovy (semaglutide) and Eli Lilly's Zepbound (tirzepatide), which are dosed once a week. Analysts have suggested the two candidates could have peak annual sales potential of $5 billion or more.

Pfizer's latest lawsuit also extends its legal action to include Metsera's controlling stockholders – Validae Health, Population Health Partners, and two ARCH Venture funds – claiming they have "conspired with Metsera and Novo Nordisk in furtherance of these anticompetitive activities."

The company added that it is "taking this action to preserve and enhance competition in this important therapeutic area and to stop Novo Nordisk from illegally paying off Metsera and its controlling stockholders to gain control of, and impair and potentially kill, an emerging US competitor."

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