Pfizer Inc (NYSE:PFE) is reportedly close to launching a $7.3 billion takeover bid for anti-obesity drug developer Metsera Inc (NASDAQ:MTSR), in what could be the company’s largest deal in two years and strengthen its position in the weight-loss drug market, the Financial Times reported Monday.
The offer reportedly values Metsera at $47.50 per share in cash, with an additional $22.50 contingent on meeting specific performance milestones, according to two people familiar with the matter cited by the FT. Metsera’s shares closed at $33.32 on Friday. The deal could be formally announced as soon as Monday.
Pfizer’s move appears driven by its ambition to enter the rapidly growing weight-loss drug sector after its experimental therapy, danuglipron, failed in clinical trials earlier this year. The company has trailed competitors including Eli Lilly and Company (NYSE: LLY) and Novo Nordisk A/S (NYSE: NVO), which have seen significant success in this market over the past two years.
Metsera went public earlier this year in one of the largest offerings of 2025. Its lead candidate, MET-097i, is positioned as a next-generation advancement of existing GLP-1 weight-loss therapies.
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