Pfizer Inc. is threatening legal action at an attempt by Novo Nordisk A/S to scupper its acquisition of Metsera Inc., with an unsolicited $9 billion offer for the anti-obesity specialist. That trumps Pfizer’s agreed bid made in September, which valued New York-based Metsera at $7.3 billion. When it was announced on Sept. 22, the boards of Metsera and Pfizer unanimously backed the deal. Now, Metsera’s board has concluded Novo Nordisk’s bid is better and has given Pfizer four working days to up its offer. Novo Nordisk made the unsolicited bid after losing out in the initial auction process from which Pfizer emerged on top. There was a furious response from the U.S. pharma company, which called Novo Nordisk’s bid “reckless and unprecedented,” saying “it is an attempt by a company with a dominant market position to suppress competition in violation of law, by taking over an emerging American challenger.”

Is US ready to cede biotech leadership role?

John Crowley doesn’t worry about where his kids’ toys are made, but he told the Senate Health, Education, Labor and Pensions (HELP) Committee that he does care where their medicines are made. His concerns, as a father and as president/CEO of the Biotechnology Innovation Organization, are becoming more urgent, he testified yesterday at a HELP hearing on the future of biotech in the U.S. Although America has been the global leader in the biotech sector since its birth in the U.S. nearly 50 years ago, China is positioned to seize that title within two to three years, he warned.

US, South Korea trade deal eases industry’s pharma tariff fears

The Korea Biotechnology Industry Organization (Korea BIO) on Oct. 30 welcomed the bilateral trade deal between the U.S. and South Korea announced during U.S. President Donald Trump’s state visit alongside the Asia-Pacific Economic Cooperation forum in Gyeongju, South Korea. For South Korea’s pharmaceutical industry, the bilateral trade agreement is expected to grant most favored nation treatment for its pharmaceutical exports to the U.S. as well as tariff exemption on generic exports. “Korea BIO sincerely welcomes the conclusion of tariff negotiations between … South Korea and the U.S.,” the association’s statement reads.

Biopharma stocks regain ground in Q3 but still lag major indexes

The BioWorld Biopharmaceutical Index extended its rebound through August and September, closing the third quarter (Q3) slightly in positive territory after losing ground earlier in the year. In the past two months, Regeneron Pharmaceuticals Inc.‘s strong Q2 earnings were overshadowed by a third FDA complete response letter for odronextamab, while Sanofi SA‘s amlitelimab met phase III endpoints in atopic dermatitis but disappointed investors when compared to Dupixent (dupilumab).

Lumosa’s stroke drug meets phase IIb endpoints in China

Lumosa Therapeutics Co. Ltd.’s intravenous odatroltide (LT-3001) met the primary endpoints in a phase IIb trial in China in patients with acute ischemic stroke, paving the way for a pivotal phase III study. Conducted across 34 medical centers, the trial confirmed LT-3001’s safety and showed clear functional improvement signals in patients with large artery atherosclerosis and disabling stroke, even under an extended 24-hour treatment window. LT-3001 is an intravenous antioxidant small molecule linked to a short peptide that restores occluded blood flow and limits reperfusion injury.

Celltrion, Portrai in $87M R&D deal to discover new drug targets

Celltrion Inc. announced Oct. 29 the signing of an $87.75 million joint drug R&D agreement with AI and spatial transcriptome-based biotech Portrai Inc. The deal will secure for Incheon, South Korea-based Celltrion exclusive rights to up to 10 targets discovered through the collaboration. Under the terms, Cambridge, Mass.-based Portrai agreed to discover novel targets using its spatial database and multi-omics analysis technology, including the company’s AI-powered Portraitarget platform. For Portrai, the deal spells up to $87.75 million, including an undisclosed up-front payment, along with separate royalty payments upon commercialization.

Also in the news

Abbvie, Anaptysbio, Biogen, Biomarin, Bridgebio, Compass, Concerto, Creative Medical Technology, Eisai, Eliksa, Exousia, Ferring, GC Cell, Genprex, Hyloris, Iaso, I-Mab, Jazz, Kadimastem, Kyverna, Maplight, Merck, Mimetech, NLS, Orion, Pinetree, Rarity, Relief, Samsung Bioepis, Sonoma, Vistagen