Pfizer to acquire Metsera, obesity drugmaker, for $4.9bn

Pfizer Inc, a global pharmaceutical and biotechnology company, says it has signed a deal to acquire Metsera, a maker of drugs for obesity and heart disease, for $4.9 billion.

The transaction, announced in a statement on Monday, will see Pfizer purchase all outstanding Metsera shares at $47.5 each in cash.

In addition, the agreement is said to include a contingent value right (CVR) of up to $22.5 per share tied to future clinical and regulatory milestones, potentially raising the deal’s value significantly.

According to the statement, the acquisition will add four differentiated clinical-stage programmes including “oral and injectable GLP-1 receptor agonists and amylin analogues to Pfizer’s pipeline”.

“The acquisition brings deep expertise and a portfolio of differentiated oral and injectable incretin, non-incretin and combination therapy candidates with potential best-in-class efficacy and safety profiles,” the statement reads.

“The Boards of Directors of both Metsera and Pfizer have unanimously approved the transaction.”

Speaking on the transaction, Albert Bourla, Pfizer’s chief executive, said the deal positions the company to accelerate its push into the fast-growing obesity therapeutics market.

“Obesity is a large and growing space with over 200 health conditions associated with it. This acquisition aligns with our focus on the most impactful opportunities and propels Pfizer into this key therapeutic area,” Bourla said.

On his part, Whit Bernard, co-founder and CEO of Metsera, said joining Pfizer will accelerate the company’s mission to reduce the “physical, emotional, and economic burdens” of obesity.

The company said the acquisition is expected to close in the fourth quarter of 2025 pending regulatory and shareholder approvals.

Pfizer said it will update its financial outlook in its upcoming quarterly earnings release.