Pfizer has completed the $10 billion agreement for Metsera.

American pharmaceutical company Pfizer has signed a 10 billion dollar deal with obesity drug developer Metsera. This has brought an end to the biotechnology bidding war with its Danish rival Novo Nordisk. Novo Nordisk announced on Saturday, November 8, that it was withdrawing from the competition.

Metsera accepted the increased offer from Pfizer on Friday, November 7. The Danish firm's previously regarded 'superior' bid was reported to carry risks under U.S. antitrust laws. Novo Nordisk emphasized in its statement that it believed the structure of the bid was "compliant with antitrust laws."

Metsera's drugs are projected to achieve peak sales of around 5 billion dollars. This victory provides Pfizer with a pathway to enter the lucrative obesity drug market; however, Metsera's treatments will not hit the shelves for years.

This outcome represents a blow for Novo in its efforts to regain ground against American rival Eli Lilly. The Danish pharmaceutical manufacturer stated that it will continue to advance its own pipeline of obesity treatment options and said, "we will continue to explore opportunities for business development and acquisitions."

Pfizer expects to close the merger after Metsera's shareholders meeting on November 13.