Novo’s CEO Turns to Next Targets After Losing Metsera to Pfizer

Novo Nordisk A/S Chief Executive Officer Mike Doustdar may have lost out to Pfizer Inc. in a $10 billion takeover battle for obesity drug developer Metsera Inc. But don’t expect him to give up on dealmaking any time soon as the Danish company seeks to regain lost ground in the booming weight-loss market.

Novo, the owner of Wegovy and Ozempic, will continue to look at opportunities in obesity, diabetes and their associated comorbidities, according to people familiar with the situation. The company had viewed Metsera as a potential bolt-on transaction rather than a transformational acquisition, the people said.