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Pfizer The drugmaker is being sued over some unwanted competition in its nearly $5 billion bid to buy Metsera.
New York-based Pfizer said after market close on Friday that it was suing Metsera and a third drugmaker, Denmark. Novo Nordiskon the bid for Metsera, which Novo announced on Thursday.
Novo said it planned to buy Metsera in a deal that could be worth up to $9 billion, and Metsera said the offer appeared better than Pfizer’s bid, which was announced in September.
Metcera Inc. does not have any products on the market, but is developing potential oral and injectable treatments. This includes some potential treatments that may target areas vulnerable to obesity and diabetes.
Novo already has Wegovi and treatments Ozempic in the market in those respective categories.
Pfizer said Novo’s offer could not be considered superior to its bid because it carried significant regulatory risks and was unlikely to be completed.
Pfizer, which ended development of a potential pill to treat obesity this spring, also said Novo’s offer represents “an illegal attempt by a company with a dominant market position to suppress competition.”
Representatives for both Novo and Metserra did not immediately respond to requests for comment from The Associated Press.