The acquisition gives Pfizer access to Metsera’s promising obesity drug pipeline
Pfizer has secured a $10 billion deal to acquire obesity drug developer Metsera, ending a tense bidding war with Novo Nordisk.
Metsera accepted Pfizer’s $86.25-per-share offer—a 3.7% premium to its Friday close.
In September, Pfizer was ready to acquire Metsera for $7.3 billion, but Novo Nordisk submitted an “unsolicited” $9 billion bid in October to acquire the company.
While accepting Pfizer’s bid, Metsera said Novo’s bid carried unacceptably high legal and regulatory risks.
The acquisition gives Pfizer access to Metsera’s promising obesity drug pipeline, including MET-097i, a GLP-1 injectable, and MET-233i, an amylin-mimicking compound projected to generate $5 billion in peak sales.
The win also gives Pfizer a long-awaited foothold in the booming $72 billion global obesity drug market, led by Novo Nordisk’s Wegovy and Eli Lilly’s Zepbound. The industry is projected to reach $150 billion by 2030.
Metsera shareholders will vote on the deal on Thursday.