Deal aims to strengthen Novo Nordisk’s peptide and incretin pipeline for obesity and diabetes care
Novo Nordisk, the Denmark-headquartered global healthcare leader, has submitted an unsolicited proposal to acquire Metsera, Inc. The acquisition would expand Novo Nordisk’s access to Metsera’s early- and development-stage incretin and non-incretin analogue peptide programmes, reinforcing its position in obesity and diabetes therapeutics.
Under the terms of the proposal, Novo Nordisk would acquire all outstanding shares of Metsera’s common stock at a price of USD 56.50 per share in cash, valuing Metsera at approximately USD 6.5 billion in equity (or USD 6.0 billion enterprise value).
In addition, the proposal includes contingent value rights (CVRs) of up to USD 21.25 per share (an aggregated potential of USD 2.5 billion) tied to the achievement of specific clinical and regulatory milestones.
The cash payment would be made at signing in exchange for non-voting preferred stock representing 50% of Metsera’s share capital. The CVRs would be issued upon closing, covering the remaining 50% of the shares.
The offer is currently under review by Metsera’s Board of Directors.
Novo Nordisk stated that the proposed acquisition aligns with its long-term growth strategy of developing innovative and differentiated medicines for people living with obesity, diabetes, and related comorbidities.
By integrating Metsera’s complementary peptide-based therapeutic programs, Novo Nordisk aims to maximize scientific synergies and expand its early-stage research capabilities in metabolic and endocrine disorders.
“An acquisition would be in line with Novo Nordisk’s long-term strategy of developing innovative and differentiated medicines and treating millions more people living with obesity and diabetes,” the company said in a statement.
Founded in 1923 and headquartered in Denmark, Novo Nordisk is a global leader in healthcare innovation with a mission to defeat serious chronic diseases such as diabetes, obesity, and rare blood and endocrine disorders.
The company employs approximately 78,400 people across 80 countries, and its products are marketed in around 170 countries.
Novo Nordisk continues to invest in scientific breakthroughs, access expansion, and disease prevention initiatives, reinforcing its vision to pioneer change in chronic disease management.
Metsera Inc. is a biotechnology company focused on developing novel peptide-based therapeutics, including incretin and non-incretin analogues. Its pipeline targets metabolic and inflammatory pathways, positioning it as a complementary fit within Novo Nordisk’s expanding research ecosystem.