Unlock the Editor’s Digest for free
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Pfizer and Novo Nordisk have both offered to sweeten their bids for the US obesity biotech Metsera, in the latest development in the ongoing battle for one of the most coveted weight-loss start-ups.
The improved offers from both large pharmaceutical groups vying over the biotech are set to be revealed in a filing later on Tuesday, according to people familiar with the matter.
The exact price that both pharma groups have improved their offers to could not immediately be established. Last week, Novo came over the top of an original Pfizer deal with Metsera with an up to $9bn offer, sparking one of the most contentious bidding wars over a biotech in recent memory.
Pfizer declined to comment. Novo and Metsera did not immediately respond to requests for comment.
This is a developing story
