Pfizer Makes Bold $7.3 Billion Move with Metsera Acquisition to Boost Obesity Drug Pipeline
Pfizer Makes Bold $7.3 Billion Move with Metsera Acquisition to Boost Obesity Drug Pipeline
Pfizer has announced a significant strategic entry into the burgeoning obesity drug market with its intent to acquire biotech firm Metsera in a deal potentially valued at up to $7.3 billion. This acquisition, which includes future payments tied to clinical and regulatory milestones, positions Pfizer to aggressively compete in a sector projected to reach $100 billion by the 2030s.
The pharmaceutical giant will initially pay $47.50 per share in cash for Metsera, representing a substantial 43% premium over Metsera’s recent closing price, valuing the deal at $4.9 billion upfront. An additional $22.50 per share in contingent value rights could elevate the total acquisition cost to $70 per share, contingent on Metsera’s experimental medicines achieving specific clinical and regulatory successes. Following the announcement, Metsera’s shares surged over 60% in premarket trading, while Pfizer’s stock saw a modest increase of more than 1%. The transaction is anticipated to finalize by the end of the current year.
This bold step follows a series of setbacks for Pfizer in its internal obesity drug development efforts, including the discontinuation of its lead candidate, danuglipron, and another once-daily pill due to safety concerns. With Metsera’s acquisition, Pfizer gains a robust pipeline of both oral and injectable weight-loss treatments, including a promising GLP-1 drug, MET-233i, which demonstrated significant weight reduction in early trials, and a potential once-monthly injectable amylin agonist.
Pfizer CEO Albert Bourla emphasized the strategic alignment, stating the acquisition “propels Pfizer into this key therapeutic area” and allows the company to leverage its extensive cardiometabolic experience and infrastructure. Analysts from Leerink Partners and JPMorgan have lauded the deal, predicting Metsera’s candidates could generate over $5 billion in peak annual sales and significantly accelerate Pfizer’s market entry against established rivals like Eli Lilly’s Zepbound and Novo Nordisk’s Wegovy. Metsera, which went public in 2025, has swiftly built a diverse portfolio through its own licensing and acquisition activities, making it a valuable asset in the race for next-generation obesity therapies.
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