Metsera…today issued the following statement in response to litigation filed against the Company by Pfizer: "Metsera disagrees with the allegations in Pfizer's complaint and will address them in the Delaware Court of Chancery."
In any event, a temporary injunction from the Chancery Court greatly increases PFE’s leverage.
While it did cross my mind that the PFE lawyers could believe they have something to go on, best guess is it's just something to buy time for a few extra days. One would think they might have anticipated this possible action from Party 1.
Novo’s shady strategy is to make an early payment for Metsera shares. That would effectively give Novo economic control of Metsera and undue influence on the company before the transaction even undergoes regulatory review. While a Danish company buying an American one doesn’t necessarily represent an obvious threat to national security, permitting Novo to acquire a promising U.S.-based biotech company could lead to American job losses and profits getting sent abroad.
This second lawsuit, which (unlike the Chancery Court suit) does not seek a temporary restraining order against NVO-MTSR, is unlikely to be of much consequence, IMO.