Pfizer Inc. (NYSE: PFE) on Monday agreed to acquire Metsera, Inc. (NASDAQ: MTSR) to accelerate the next generation of medicines for obesity and cardiometabolic diseases.
The acquisition brings a portfolio of differentiated oral and injectable incretin, non-incretin, and combination therapy candidates.
"Obesity is a large and growing space with over 200 health conditions associated with it," said Pfizer CEO Albert Bourla. The acquisition "propels" Pfizer into a "key therapeutic area," he added.
Metsera has a portfolio of therapeutic candidates and combinations with four programs in clinical development. It also has several next-generation programs with ongoing IND-enabling studies. The pipeline includes:
- MET-097i, a weekly and monthly injectable GLP-1 receptor agonist (RA) in Phase 2 development
- MET-233i, a monthly amylin analog candidate as monotherapy
- Two oral GLP-1 RA candidates to begin clinical trials
- Additional preclinical nutrient-stimulated hormone therapeutics.
Pfizer will acquire Metsera for $47.50 per share in cash, representing an enterprise value of approximately $4.9 billion.
The agreement also includes milestone payments of up to $22.50 per share in cash.
Pfizer management expects the transaction to close in the fourth quarter of 2025.
The Financial Times was the first to report the M&A update.
Earlier this year, Pfizer discontinued the development of danuglipron (PF-06882961), a once-daily oral drug for chronic weight management. After that flop, the company can once again compete in the next-generation anti-obesity drug sector.
The company said that a single asymptomatic participant in one of the dose-optimization studies experienced potential drug-induced liver injury, which resolved after discontinuation of danuglipron.
Price Action: PFE stock is up 1.75% at $24.45, and MTSR stock is up 60.53% at $53.49 during the premarket session at the last check on Monday.