Pfizer Sweetens Its Offer for Metsera in Bidding War Against Novo

Pfizer Inc. agreed to buy Metsera Inc. in a $10 billion deal, following a tumultuous bidding war with Novo Nordisk A/S for the weight-loss drug startup.

After “careful consideration,” Novo doesn’t intend to increase its offer, the Danish company said in a statement on Saturday. “It will continue to assess opportunities for business development and acquisitions that meet its criteria for returns and capital allocation and that further its strategic objectives,” it said.