Obesity drug developer Metsera said on Friday that it had accepted Pfizer 's $10 billion acquisition offer, in what could spell the end of a bidding war between the New York-based pharma giant and rival Novo Nordisk that erupted over the last week.

Pfizer had appeared to have locked up this acquisition in September before Novo jumped in last week, sparking a strategic fight for a coveted asset in the growing weight loss market. Pfizer is trying to gain a toehold in that marketplace to overcome past in-house stumbles in developing weight-loss drugs.

Pfizer said it would pay $86.25 per share in cash, a premium of 3.69% to Metsera's Friday close. The offer includes $65.60 per share in cash and a contingent value right (CVR) entitling holders to additional payme

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