Novo Nordisk, a leading global healthcare company founded in 1923 and headquartered in Denmark, has announced that it has submitted an unsolicited proposal to acquire Metsera, Inc.

The proposed acquisition includes Metsera’s early and development-stage incretin and non-incretin analogue peptide programmes, which Novo Nordisk believes would enhance its complementary portfolio and capabilities. The company stated that this move aligns with its long-term strategy to develop innovative and differentiated medicines and expand treatment options for people living with obesity, diabetes, and related comorbidities.

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 the deal at approximately USD 6.5 billion in equity (or around USD 6.0 billion in enterprise value). Additionally, shareholders would receive contingent value rights (CVRs) worth up to USD 21.25 per share in cash, representing a potential additional value of USD 2.5 billion, contingent upon achieving specific clinical and regulatory milestones.

The cash consideration would be paid at signing in exchange for non-voting preferred stock representing 50% of Metsera’s share capital, while the CVRs would be issued upon completion of the acquisition for the remaining shares.

The Metsera board of directors is currently reviewing the proposal.

Metsera’s pipeline of incretin and non-incretin analogue peptide programmes is seen as a strong strategic fit with Novo Nordisk’s focus on chronic disease management.

Novo Nordisk, driven by its mission to defeat serious chronic diseases, continues to expand access to its medicines and pioneer scientific innovation. The company employs approximately 78,400 people across 80 countries and markets its products in around 170 countries worldwide.