Pfizer Inc. and Metsera, Inc. have announced a definitive agreement under which Pfizer will acquire Metsera for up to $7.3 billion. This move is part of Pfizer’s strategy to enter the rapidly expanding weight loss market.
As part of the agreement, Pfizer will pay $47.50 per share in cash for Metsera, representing nearly a 43% premium over the biotech company’s Friday closing price of $33.32, valuing the deal at $4.9 billion.
In a joint press release, Pfizer Chairman and CEO, Albert Bourla, told investors, “Obesity is a large and growing space with over 200 health conditions associated with it. The proposed acquisition of Metsera aligns with our focus on directing our investments to the most impactful opportunities and propels Pfizer into this key therapeutic area.”
“We are excited to apply our deep cardiometabolic experience and manufacturing and commercial infrastructure to accelerate a portfolio that includes potential best-in-class injectables, with clinical data differentiated by efficacy, tolerability and durability supporting monthly dosing, with the aim to address the ongoing unmet needs associated with obesity and related diseases.”
Whit Bernard, Co-Founder and Chief Executive Officer of Metsera commented, “Since our founding in 2022, Metsera has worked tirelessly to reduce the physical, emotional, and economic burdens of obesity with a portfolio of next generation nutrient-stimulated hormone therapeutic candidates. Our team has invented and developed multiple injectable and oral candidate medicines and a category-leading peptide engineering platform, which together promise class-leading performance in a major sector of population health.”
“Today’s announcement sets a path for our portfolio to potentially transform the lives of hundreds of millions of people and represents an excellent outcome for our shareholders. We look forward to joining forces with Pfizer to leverage their global clinical, regulatory, manufacturing and commercial capabilities to realize the promise of improved human health at scale.”
The deal is expected to close at the end of the year.
Following the announcement, Metsera shares rose more than 60% in premarket trading, while Pfizer’s stock rose more than 1%.
By CEO NA Editorial Staff
