UPDATE 1-US trade regulator raises concern about Novo bid for Metsera

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Recasts with details of FTC letter to Novo and Metsera

WILMINGTON, Delaware, Nov 5 (Reuters) - The structure of Novo Nordisk's NOVOb.CO $10 billion bid for obesity drug developer Metsera MTSR.O may violate provisions of U.S. antitrust law if the companies consummate the deal without prior regulatory review, the U.S. Federal Trade Commission said in a Wednesday letter to the companies' legal teams.

The warning letter comes as Novo and Pfizer PFE.N are engaged in a heated bidding war for Metsera with each raising its bid this week. Pfizer has argued Novo's bid carries regulatory risk, while Pfizer has obtained early clearance.

Both Novo and Metsera did not immediately respond to Reuters' request for comment.

Novo is a major player in the obesity drug segment, which Pfizer is hoping to crack by acquiring Metsera.


(Reporting by Tom Hals in Wilmington, Delaware; Editing by Chris Reese)

((thomas.hals@thomsonreuters.com; 610-544-2712))

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