Novo Nordisk Launches Bidding War With Pfizer
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Drugmaker Pfizer on Friday sued obesity-drug developer Metsera and Novo Nordisk, seeking to block Metsera from terminating its multibillion-dollar merger deal with Pfizer after Novo Nordisk made an unsolicited takeover bid.
For Novo, it marks the boldest move yet for recently appointed CEO Maziar Mike Doustdar. In response to a slowdown in sales growth for its blockbuster obesity drug Wegovy, Doustdar has already announced plans to lay off about 9,000 employees worldwide and shutter the company’s cell therapy R&D work.