Pfizer Outbids Novo Nordisk in Fierce Takeover Battle
In a major strategic move to re-enter the booming obesity drug market, Pfizer Inc. has agreed to acquire Metsera Inc., a next-generation weight-loss drug developer, in a deal valued at $10 billion. The acquisition follows a competitive bidding war with rival pharmaceutical giant Novo Nordisk A/S, which has dominated the global obesity treatment segment with its GLP-1-based therapies.
While the transaction is yet to be formally completed, the agreement positions Pfizer as the likely winner of the high-stakes race, according to Bloomberg.
Deal Structure and Shareholder Approval
Under the terms of the agreement, Pfizer will pay $86.25 per share, including an initial $65.60 per share in cash, with additional contingent payments of up to $20.65 per share tied to specific milestones. Metsera’s board stated that Pfizer’s latest bid represented the “best transaction for shareholders,” finalizing a deal that was marginally higher than the company’s earlier offer.
The acquisition gives Pfizer access to Metsera’s promising obesity drug pipeline, which includes several experimental treatments among them MET-233i, an injectable drug that helped patients lose up to 8.4% of their body weight in just 36 days during early-stage trials.
A Strategic Comeback for Pfizer
The deal marks a comeback move for Pfizer, which halted development of its internal obesity pill earlier this year after safety concerns in trials. With Metsera’s assets, Pfizer aims to build a robust weight-loss drug portfolio and compete directly with industry leaders Eli Lilly and Novo Nordisk.
Pfizer CEO Albert Bourla has faced growing investor pressure to strengthen the company’s drug pipeline after post-pandemic revenue declines. The Metsera acquisition, analysts say, signals Pfizer’s renewed ambition to reclaim leadership in the multi-billion-dollar metabolic health market.
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