Pfizer Inc. (PFE) is closing in on a $7.3 billion deal to acquire Metsera Inc. (MTSR), a New York-based biotech firm developing next-generation treatments for obesity, according to the Financial Times.
The proposed transaction includes a cash offer of $47.50 per share, with an additional $22.50 per share contingent on performance milestones, a structure that could push the total value significantly higher.
Metsera, founded in 2022, develops injectable and oral nutrient-stimulated hormone analog peptides to treat obesity, overweight, and related diseases. Its lead candidate, MET-097i, is an injectable therapy that demonstrated an average weight loss of 11.3% in mid-stage trials earlier this year. The drug's once-monthly dosing schedule could offer a convenience edge over weekly GLP-1 injections currently dominating the market.
The acquisition marks Pfizer's strategic re-entry into the obesity drug race after discontinuing its own oral GLP-1 candidate, danuglipron, due to tolerability and liver safety concerns. With global demand for weight-loss therapies projected to reach $150 billion by the early 2030s, Pfizer's move positions it to compete with rivals Eli Lilly and Novo Nordisk.
An official announcement is expected soon, pending final negotiations. If completed, the deal would underscore big pharma's growing reliance on biotech innovation to remain competitive in high-growth therapeutic areas.
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