Pfizer, a leading US pharmaceutical company, has announced plans to acquire Metsera, a manufacturer of obesity and heart disease treatments, in a deal valued at $4.9 billion. The acquisition aims to expand Pfizer’s portfolio by entering the rapidly growing market for obesity medicines.
According to Pfizer CEO Albert Bourla, “obesity is a large and growing space with over 200 health conditions associated with it.” The proposed acquisition of Metsera aligns with Pfizer’s strategy to invest in the most impactful opportunities, propelling the company into this key therapeutic area.
The deal involves Pfizer acquiring all outstanding shares of Metsera common stock for $47.50 per share, with the transaction expected to close in the final quarter of this year. This move comes as pharmaceutical companies increasingly focus on the obesity and diabetes medicine sector, driven by the success of similar treatments such as Novo Nordisk’s Ozempic and Wegovy, as well as Eli Lilly’s Zepbound.
Pfizer’s decision to enter this market is significant, given the company’s history of developing innovative treatments, including one of the first Covid vaccines. Although its stock price has fallen since the pandemic, from $58 a share in December 2021 to $24 a share at the close of trading on Friday in New York, the company’s shares were up 1.6 percent in electronic trading before the opening of Wall Street on Monday. Metsera’s shares, on the other hand, soared by 60 percent.
The acquisition of Metsera by Pfizer underscores the growing importance of the obesity treatment market, with the World Health Organization noting that obesity is a major risk factor for various health conditions. As the demand for effective treatments continues to rise, pharmaceutical companies are investing heavily in research and development to address this pressing health issue. With the completion of the deal, Pfizer is poised to play a significant role in this expanding market, marking a notable development in the company’s strategic growth plans.
