Pfizer Completes Acquisition of Metsera
By Kelly Cloonan
Pfizer closed its acquisition of weight-loss drug startup Metsera in a deal that could be valued at more than $10 billion.
Under the deal, Pfizer paid $65.60 a share in cash up front, and could additionally pay a contingent value right of up to $20.65 a share tied to specific clinical and regulatory milestones, the pharmaceutical company said Thursday.
Metsera is now a wholly owned subsidiary of Pfizer, and its shares will stop trading on the Nasdaq Global Select Market after market close, Pfizer said.
The deal marks an investment in the future of medicine, according to Pfizer.
"By acquiring Metsera, we are directing our resources toward one of the most impactful and high-growth therapeutic areas and positioning ourselves to define it," Pfizer Chief Executive Albert Bourla said.
The deal follows a heated bidding war with rival Novo Nordisk. In September, Pfizer had agreed to buy Metsera for up to $7.3 billion, which Novo Nordisk topped with an unsolicited bid valued at up to $9 billion.
After Pfizer reached its deal with Metsera last week, Novo Nordisk said it wouldn't increase its offer because of its commitment to financial discipline and shareholder value. The company said it will keep assessing opportunities for business development and acquisition.
Metsera, meanwhile, said it decided to take Pfizer's offer in part because of a call from the Federal Trade Commission warning about potential risks to proceeding with a Novo Nordisk deal.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
November 13, 2025 12:39 ET (17:39 GMT)
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