Pfizer Inc. closed its purchase of all outstanding shares of Metsera, Inc. on November 13 2025, paying $65.60 in cash per share. The transaction values Metsera at an enterprise value of roughly $7.0 billion and includes a contingent value right of up to $20.65 per share tied to future clinical and regulatory milestones.
The deal gives Pfizer immediate access to Metsera’s next‑generation obesity therapeutics, including the monthly injectable GLP‑1 receptor agonist MET‑097i and the monthly amylin analog MET‑233i, as well as early‑stage oral candidates. By adding these assets, Pfizer expands its obesity portfolio and positions itself to compete more directly with industry leaders such as Novo Nordisk and Eli Lilly, leveraging its global development, manufacturing, and commercial infrastructure.
Pfizer’s acquisition is expected to be dilutive through 2030 because of planned investments in Metsera’s late‑stage pipeline candidates. The company has indicated that it will continue to invest heavily in the development of MET‑097i and MET‑233i, which are differentiated by monthly dosing and improved efficacy and tolerability profiles. The acquisition also provides a platform for future revenue generation from Metsera’s proprietary MINT, HALO, and MOMENTUM technologies.
“The acquisition is a deliberate investment in the future of medicine and a strategic move to define the high‑growth obesity therapeutic area,” said Pfizer Chairman and CEO Albert Bourla. “We are excited to bring Metsera’s innovative pipeline into our portfolio and to leverage our scale to accelerate development and commercialization.”
The transaction underscores Pfizer’s broader strategy of acquiring promising innovation to fill strategic gaps and scale globally. Past acquisitions such as Warner‑Lambert (Lipitor) and Wyeth have demonstrated the company’s ability to integrate new assets and generate long‑term value. With Metsera, Pfizer aims to strengthen its position in a rapidly growing obesity market projected to exceed $100 billion annually by the early 2030s.
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