Pfizer to Buy Metsera in $7.3B Deal, Bet on Obesity Drugs

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Pfizer is close to finalizing a deal to acquire weight-loss drug developer Metsera for up to $7.3 billion. Under the agreement, Pfizer will pay $47.50 per share in cash for the New York–based company, plus an additional payment of up to $22.50 per share tied to certain performance milestones.

Shares of Metsera surged more than 60%, bringing its market value close to $4 billion.

Demand for weight-loss drugs is skyrocketing, intensifying the competition among major players such as Eli Lilly and Novo Nordisk. These two companies dominate the GLP-1 weight-loss drug space, creating a high barrier to entry for new rivals.

Analysts project the global weight-loss drug market could reach $150 billion by the early 2030s.

Through the acquisition of Metsera, Pfizer aims to quickly secure a robust drug pipeline and clinical data, compensating for its setbacks in weight-loss drug development.

Why Pfizer Choose Metsera?

Metsera’s core drug portfolio falls into two categories.

The first includes ultra–long-acting GLP-1R injectables, such as MET-097i and MET-233i. Clinical data show that MET-097i has a half-life of around 15 to 16 days — roughly three times longer than Eli Lilly’s tirzepatide and twice as long as Novo Nordisk’s semaglutide. This means MET-097i could potentially require only once-monthly dosing.

MET-233i is another ultra–long-acting injectable with low fibril formation potential and compatibility with other NuSH-like peptides. It can be used as a standalone therapy or in combination with MET-097i, offering the dual benefits of extended dosing intervals and enhanced efficacy. A MET-097i/MET-233i combination has already entered clinical trials, achieving around 8.4% weight loss at a 1.2 mg dose over roughly five weeks — impressive results even for monotherapy.

The second category centers on GLP-1R oral drugs, led by MET-224o. As an oral peptide, MET-224o leverages Metsera’s MOMENTUM platform to optimize oral bioavailability while being engineered for stability in the gastrointestinal tract, opening future development potential.

In sum, Metsera’s technology platform enables scalable production of promising drug candidates, offering Pfizer long-term pipeline value and sustainable molecular innovation — a key reason behind its interest in the company.