Pfizer to Buy Metsera for $7.3 Billion to Enter the Obesity Drug Race

Pfizer executives are confident about the monthly dosing approach of Metsera’s drug, as the drug remains in the patient’s body long enough without worsening side effects between doses.

Pfizer announced on Monday that it would buy Metsera, a drug developer, in a deal valued at up to $7.3 billion, including future payments. This was part of Pfizer’s plan to enter the rapidly expanding market for obesity treatments.

The obesity treatment market is expected to reach $150 billion globally by the early 2030s. There is an increase in market value as people are rapidly adopting GLP-1 therapies from companies like Novo Nordisk and Eli Lilly.

Now, pharmaceutical companies are pushing others down to create next-generation drugs, including medicines that help patients lose fat while preserving muscle mass.

Metsera has a wide range of portfolios, ranging from promising experimental obesity drugs, such as MET-097i, a GLP-1 injectable, and MET-233i, which is similar to the pancreatic hormone amylin. The company is currently studying MET-233i as a once-monthly treatment, taken alone and in combination with MET-097i, in early-stage clinical trials.

According to Pfizer, early-stage results for MET-233i show that it could be a best-in-class option. Some analysts believe that easy-to-remember dosing schedules, like Metsera’s monthly treatments, could give Pfizer a competitive edge in the market. David Risinger of Leerink Partners projects that Metsera’s drug products will give sales of over $5 billion at their peak.

Pfizer executives are confident about the monthly dosing approach of Metsera’s drug, as the drug remains in the patient’s body long enough without worsening side effects between doses.

Pfizer’s Chief Scientific Officer, Chris Boshoff, highlighted that a well-tolerated monthly injection could have a huge advantage as it improves treatment maintenance, convenience, and patient adherence.

This deal comes after Pfizer has had its own setbacks while producing obesity drugs.

The company discontinued its once-daily weight loss pill, danuglipron, in April after a trial patient experienced possible drug-induced liver injury, which the patient didn’t experience after the medication was stopped. Also, production of twice-daily versions was stopped in late 2023 after it started showing side effects on the patients.

As part of the deal, Pfizer will pay $47.50 per share in cash for Metsera. It is a 43% premium over Metsera’s recent closing price. Metsera could also receive an additional $22.50 per share if the company meets certain performance criteria. After the company announced the acquisition, Metsera’s stock jumped more than 60% to $53.80, while Pfizer’s shares rose by about 2%. The companies expect the deal to close in the fourth quarter of 2025.

Metsera’s drug pipeline also features a monthly amylin-targeting therapy and two oral GLP-1 candidates, which are expected to enter trials soon. Pfizer CEO Albert Bourla said the acquisition fits with Pfizer’s goal of investing in high-impact opportunities and strengthens its presence in this important treatment area. He noted that Pfizer’s expertise in cardiometabolic diseases, manufacturing, and commercialization would help accelerate the development of these potential best-in-class drugs.

Analysts remain optimistic about Metsera’s prospects. David Risinger of Leerink Partners predicts the company’s obesity drugs could together generate more than $5 billion in annual peak sales. JPMorgan analyst Chris Schott added that Metsera’s experimental drugs could help Pfizer quickly establish itself in the obesity market.

Metsera, based in New York, went public earlier this year in one of 2025’s biggest biotech IPOs. The company is among several racing to develop new obesity treatments, following the commercial success of weekly injectable drugs like Eli Lilly’s Zepbound and Novo Nordisk’s Wegovy.

In the end, with new therapies and better treatment options coming to the market, patients may soon have more choices than ever before. Pfizer’s willingness to invest heavily in innovative science shows how high the stakes are for companies and, ultimately, for the millions of people seeking better ways to manage their health.