Pfizer plans to acquire Metsera for $10 billion, and Novo Nordisk withdraws from the bidding war.

After a bidding war with Novo Nordisk over this weight loss drug startup, Pfizer agreed to acquire Mycela for $10 billion. Novo Nordisk stated that, after "careful consideration," the company does not intend to increase its offer and will continue to evaluate business development and acquisition opportunities. Pfizer will acquire Mycela at a maximum price of $86.25 per share, including an initial cash payment of $65.60 per share and a potential additional payment of up to $20.65 per share.