Pfizer has completed its acquisition of Metsera for a total of up to $10 billion. Under the agreement, Pfizer will acquire Metsera shares for $65.60 in cash per share, plus a contingent right of up to $20.65 per share, for a maximum of $86.25 per share. The acquisition took place in an intense competition with Novo Nordisk, which ended in legal disputes, but Pfizer won with a higher offer. Metsera has developed a platform for long-acting injectable and oral peptides for weight loss with less frequent dosing, including monthly administration. The lead candidate is MET-097i, an injectable GLP-1 receptor agonist in advanced phase II, with data showing significant weight loss at 12 weeks with both weekly and monthly dosing. Other candidates include MET-233i, a monthly amylin analog in Phase I, an oral GLP-1 agonist in Phase I, and preclinical hormone therapies. Albert Bourla, CEO of Pfizer, said the acquisition strengthens their portfolio in obesity and cardio-metabolic diseases. The transaction is expected to be dilutive to profitability through 2030 due to investment in development.[1][2][3][5]