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Metsera on Tuesday said Novo Nordisk 's new bid for the obesity biotech is "superior" to a revised offer from Pfizer , escalating a heated tussle over the startup between the two pharmaceutical giants.

Novo Nordisk's new proposal values Metsera at up to $86.20 per share, for a total of around $10 billion. In a release, Metsera said that represents a roughly 159% premium to its closing price as of Sept. 19, the last trading day before Pfizer announced its proposed acquisition of the company.

Meanwhile, Pfizer's new proposal values Metsera at up to $70 per share, for a total of roughly $8.1 billion.

Under the terms of the original agreement for Pfizer to acquire Metser

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