NEW YORK (AP) — U.S. pharmaceutical giant Pfizer signed a deal to purchase development-stage obesity drugmaker Metsera Inc., winning a bidding war against Novo Nordisk, the Danish drugmaker behind weight-loss treatments Ozempic and Wegovy.

Metsera, based in New York, has no products on the market, but it is developing oral and injectable treatments. That includes some potential treatments that could target lucrative fields for obesity and diabetes.

The deal comes as Phizer is attempting to develop its own stake in that market, several months after ending development of a potential pill treatment for obesity.

In a statement issued Friday, Metsera said Pfizer will acquire the company for up to $86.25 per share, consisting of $65.60 per share in cash and a contingent value right entitling

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