On October 30, 2025, the Danish pharmaceutical behemoth Novo Nordisk extended an acquisition proposal to the U.S. biopharmaceutical firm Metsera. The offer was an all - cash bid priced at $56.50 per share. This translates to an enterprise value of roughly $6 billion. Moreover, the total acquisition cost could potentially surge by an extra $2.5 billion if certain clinical and regulatory milestones are met.

Earlier, Pfizer had put forward an offer of $47.50 per share, which equates to an enterprise value of about $4.9 billion. It also set out conditions for additional payments, which could go up to $22.50 per share.

At present, Novo Nordisk and Metsera are deep in advanced negotiations. There's a real possibility that they could hammer out a final agreement as soon as October 30. If Novo Nordisk manages to successfully acquire Metsera, it would be a significant setback for Pfizer's post - pandemic business reconstruction endeavors.