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Novo Nordisk starts bidding war for Metsera

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Denmark's Novo Nordisk has launched a rival bid to purchase U.S. obesity biotech firm Metsera.

Novo Nordisk is bidding up to $8.5 billion for the company. A previous offer from Pfizer was worth roughly $7.3 billion.

In a statement, Metsera officials called Novo's bid "superior" and said the company has notified Pfizer that it has four business days to negotiate.

Read more from Reuters.

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