(Reuters) -Pfizer Inc said on Monday it has filed a second lawsuit against its controlling shareholder, Metsera, and Novo Nordisk in a Delaware federal court, accusing them of anticompetitive conduct.
The latest lawsuit follows Danish drugmaker Novo’s bold and unsolicited counter-bid for U.S.-based Metsera, surprising Pfizer which had already locked in a deal with Metsera valued at about $7.3 billion.
Pfizer, which does not currently sell a weight-loss drug, is betting on Metsera to help it enter the $150 billion obesity market and offset falling COVID-related revenue and looming patent expirations.
Metsera is working on experimental therapies that analysts say could generate $5 billion in sales,
The U.S. drugmaker said Novo’s proposal to acquire Metsera was an attempt to “capture and kill” a potential American rival in the fast-growing GLP-1 drug market, where Novo holds a dominant position with its blockbuster weight-loss and diabetes treatments.
The complaint also alleges that Metsera’s controlling shareholders, including Validae Health, Population Health Partners, and ARCH Venture Funds XII and XIII, conspired with Novo and Metsera to further the anticompetitive scheme.
The filing marks Pfizer’s second lawsuit against the companies within days. On Friday, it asked the Delaware court to issue a temporary restraining order to block Metsera from terminating the agreement between the companies.
Metsera and Novo did not immediately respond to Reuters’ request for comments.
(Reporting by Mrinalika Roy in Bengaluru; Editing by Shinjini Ganguli)
Brought to you by www.srnnews.com
