Rephrase single title from this title Metsera accepts Pfizer’s US$10 billion bid in ongoing M&A battle . And it must return only title i dont want any extra information or introductory text with title e.g: ” Here is a single title:”

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OBESITY drug developer Metsera said on Friday that it had accepted Pfizer’s US$10 billion acquisition offer, in what could spell the end of a bidding war between the New York-based pharma giant and rival Novo Nordisk that erupted over the last week.

Pfizer had appeared to have locked up this acquisition in September before Novo jumped in last week, sparking a strategic fight for a coveted asset in the growing weight loss market. Pfizer is trying to gain a toehold in that marketplace to overcome past in-house stumbles in developing weight-loss drugs.

Pfizer said it would pay US$86.25 per share in cash, a premium of 3.69 per cent to Metsera’s Friday close. The offer includes US$65.60 per share in cash and a contingent value right (CVR) entitling holders to additional payments of up to US$20.65 per share in cash.

Novo wants to recover its once-commanding position in obesity drugs it lost to Eli Lilly. It is unclear if they will make another offer, or if Metsera would entertain another bid.

The company, in its Friday statement, said Novo’s proposal presents “unacceptably high legal and regulatory risks” compared to the proposed merger with Pfizer. Metsera’s board recommended its shareholders approve the amended Pfizer offer. In a statement, Pfizer said it was pleased to have reached an agreement with Metsera.

The biotech company currently loses money and analysts expect further losses while its drugs are still in development.

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The bidding war between Pfizer and Novo took the price from Pfizer’s US$7.3 billion offer in September to the current value.

It had escalated into a legal and strategic standoff, with Novo seeking to wrest Metsera from Pfizer’s grip through a complicated deal structure that has drawn scrutiny from regulators.

Metsera’s experimental obesity drugs MET-097i – a GLP-1 injectable – and MET-233i, which mimics the pancreatic hormone amylin, are projected to reach US$5 billion in combined peak sales, according to Leerink Partners analyst David Risinger. REUTERS

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