Pfizer closed its $10 billion acquisition of Metsera on November 13, 2025, paying $65.60 in cash per share and reserving a contingent value right that could add up to $20.65 per share if Metsera’s clinical milestones are met. The transaction, which values the deal at an enterprise value of roughly $7 billion, brings Metsera’s GLP‑1 and amylin‑based candidates into Pfizer’s pipeline and positions the company to compete in the rapidly expanding obesity market.
The deal followed a bidding war with Novo Nordisk that saw Pfizer’s offer win after regulatory clearance from the FTC and a board decision that favored Pfizer’s lower regulatory risk and clearer path to market. Pfizer’s leadership highlighted the strategic fit, noting that the acquisition would accelerate development of next‑generation weight‑loss therapies and help offset upcoming patent expirations in other therapeutic areas.
Metsera’s portfolio includes MET‑097i, a weekly and monthly injectable GLP‑1 receptor agonist that has entered Phase 3, and MET‑233i, a monthly amylin analog. The monthly dosing schedule differentiates the candidates from existing products and could improve patient adherence, giving Pfizer a competitive edge against leaders such as Novo Nordisk and Eli Lilly.
In a statement, Pfizer Chairman and CEO Albert Bourla said the acquisition “represents a deliberate investment in the future of medicine” and that the company would apply its deep cardiometabolic expertise and manufacturing infrastructure to accelerate the portfolio. Former Metsera CEO Whit Bernard added that the company’s mission is to “reduce the physical, emotional, and economic burdens of obesity with next‑generation hormone therapies.”
Metsera’s shares will cease trading on the NASDAQ Global Select Market after the close of business on November 13, and the company will become a wholly owned subsidiary of Pfizer. Pfizer’s leadership expects integration to be completed by the end of 2026, with the new assets contributing to long‑term growth and strengthening the company’s position in the high‑growth obesity market.
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