(Reuters) -Pfizer and Novo Nordisk are locked in a bidding war for biotech firm Metsera as the pharmaceutical giants seek to augment their pipeline in the booming weight-loss drug market.

WHAT IS METSERA?

Metsera is a New York-based clinical-stage biotech firm focused on developing treatments for obesity and metabolic diseases.

Founded in 2022 by Population Health Partners and ARCH Venture Partners, the company went public on Nasdaq in January 2025 with an initial valuation of $2.7 billion.

Since then, its market value has ballooned to about $7.5 billion as of Wednesday’s close of trading.

Novo Nordisk has offered to buy the obesity drug developer for $10 billion, while Pfizer has bid up to $8.1 billion.

WHAT OBESITY DRUGS IS METSERA DEVELOPING?

Metsera’s lead pipeline asset is MET-

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