Pfizer has successfully acquired obesity biotech Metsera for up to $86.25 per share, potentially exceeding $10 billion, following a competitive bidding war with Novo Nordisk. Metsera's board ultimately accepted Pfizer's offer, citing "unacceptably high legal and regulatory risks" associated with Novo Nordisk's proposal due to Federal Trade Commission scrutiny. This acquisition provides Pfizer with Metsera's phase 2b GLP-1 asset, MET-097i, securing its entry into the rapidly growing obesity market after prior R&D setbacks.
Pfizer (PFE) has successfully acquired obesity biotech Metsera for up to $86.25 per share, comprising $65.60 upfront and a contingent value right of up to $20.65, valuing the deal at over $10 billion. This acquisition followed a competitive bidding war with Novo Nordisk (NVO), whose final offer was approximately $10.0 billion, significantly escalating from Pfizer's initial $7.3 billion agreement. The Federal Trade Commission's (FTC) intervention proved decisive, as Metsera's board cited "unacceptably high legal and regulatory risks" associated with Novo Nordisk's proposal for rejecting their bid. This regulatory scrutiny, including direct communication from the FTC regarding potential risks, ultimately favored Pfizer's acquisition. For Pfizer, this strategic move secures MET-097i, a Phase 2b GLP-1 asset with potential for once-a-month dosing, providing a critical entry into the rapidly expanding, multibillion-dollar obesity market. This acquisition addresses Pfizer's previous R&D setbacks in the field, while Novo Nordisk has confirmed it will not pursue a higher offer for Metsera.
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