Novo Nordisk Loses Metsera Bidding War To Pfizer — But Retail Traders Aren’t Losing Faith

• Novo investors on Stocktwits praised new CEO Mike Doustdar as “dynamic,” saying they remain confident in Novo’s long-term obesity and diabetes pipeline despite short-term setbacks.
• Some traders urged the company to pursue additional acquisitions, including Viking Therapeutics, while others highlighted upcoming catalysts such as the Wegovy pill and Alzheimer’s trials.
• Novo reportedly viewed Metsera as a bolt-on deal rather than a transformational one and ultimately withdrew after Pfizer matched its latest offer amid rising valuation concerns and potential antitrust scrutiny.

Novo Nordisk's retail traders showed resilience over the weekend after the Danish drugmaker lost a $10 billion bidding war for obesity-drug developer Metsera Inc. to Pfizer. Investors indicated that they remain confident in the company’s leadership, pipeline, and disciplined approach to dealmaking despite the setback.

The stock finished lower in 13 of the past 14 sessions, with the only uptick coming last week after a Delaware judge briefly cleared the company’s bid for Metsera, rejecting Pfizer’s request to block the deal.

Retail Sentiment Holds Firm

On Stocktwits, retail sentiment for Novo was ‘extremely bullish’ amid ‘extremely high’ message volume.

Retail traders on Stocktwits maintained optimism about Novo’s outlook, with several saying they remained long on the stock and describing new CEO Mike Doustdar as “dynamic” and steering the company in the right direction. Some users said Novo was a “great buy” both before and after the Metsera outcome, while noting that patience would be needed as the company pursues its next phase of growth.

Others encouraged Novo to continue pursuing deals, urging it to “fight for your honor” and consider a potential bid for Viking Therapeutics. Some traders said they were unconcerned about the immediate market reaction, instead focusing on Novo’s longer-term potential, including its “great things in the pipeline” such as the Wegovy pill, a possible Alzheimer’s therapy, and other next-generation obesity treatments.

Novo Refocuses After Metsera

Novo CEO Mike Doustdar told executives in an internal email obtained by Bloomberg that the company will now focus on its “own promising pipeline” while continuing to explore complementary business development opportunities in diabetes and obesity.

Novo reportedly viewed Metsera as a bolt-on acquisition rather than a transformational one, and ultimately withdrew after Pfizer matched its latest offer amid rising valuation concerns and potential antitrust scrutiny.

The company had also previously signaled that its business development strategy would prioritize deals with clear strategic alignment and financial discipline. Novo has already moved to expand its portfolio with a $5.2 billion purchase of Akero Therapeutics, developer of an experimental therapy for MASH, a liver disease linked to obesity.

Novo has also filed for U.S. approval of a pill version of semaglutide, the active ingredient in Wegovy and Ozempic, and is studying the drug’s potential in mild Alzheimer’s disease.

Novo Nordisk’s stock has declined 46% so far in 2025.

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