Pfizer’s $4.9B Metsera Deal Signals More Pharma M&A in Booming Obesity Drug Market

Pfizer announced it is acquiring weight loss biotech Metsera for $4.9 billion up front, with the deal potentially increasing to $7.3 billion based on future milestones2 3 6.

The acquisition gives Pfizer access to Metsera's portfolio of obesity treatment candidates, including novel options that could compete with current market leaders Eli Lilly and Novo Nordisk2 4 9.

Metsera offers a promising monthly injectable drug candidate, contrasting with current weekly-administered GLP-1 therapies2.

Neither Pfizer nor Metsera currently have approved obesity drugs, but both have several candidates in clinical development, addressing the surging market demand4 9.

Pfizer is seeking to re-enter the obesity space after discontinuing its own previous obesity drugs due to side effects encountered in late-stage trials2 4.

Pfizer’s move is expected to intensify M&A activity in the obesity drug sector, as other pharmaceutical giants look to capitalize on a market with high consumer demand and premium pricing for new weight-loss drugs2 4.

According to company executives, the deal is intended to position Pfizer as a potential market leader in obesity treatments heading into the late 2020s and beyond2.

Pfizer will pay $47.50 per share in cash for Metsera, and the total value of the deal could rise depending on regulatory and clinical milestones achieved by Metsera's pipeline6.

The acquisition is expected to close in the fourth quarter of 2025, pending regulatory approval4 7.