Pfizer Seals the Deal on $10B Metsera Acquisition Following Shareholder Approval
Pfizer has triumphantly finalized its acquisition of obesity drug developer Metsera, a deal worth up to $10 billion, following shareholder approval. This significant achievement marks a new era in the fiercely competitive weight-loss drug market.
The pharmaceutical behemoth’s acquisition was officially completed on Thursday. This followed a heated bidding war with Danish competitor Novo Nordisk, which saw the price soar from Pfizer’s initial $7.3 billion offer in September. Metsera shareholders gave their nod of approval to the deal, which will result in Pfizer paying $86.25 per share in cash. This includes $65.60 per share upfront and up to $20.65 per share through contingent value rights.
The acquisition provides Pfizer with a crucial stronghold in the rapidly burgeoning obesity treatment market. This market is projected to reach an annual worth of $150 billion by the end of the decade. Metsera, a company that was founded a mere three years ago, has developed several experimental weight-loss drugs. These drugs could potentially hit the market starting from 2028-2029, potentially helping to counterbalance Pfizer’s impending patent expirations.
The deal was finalized after U.S. antitrust regulators voiced concerns about Novo Nordisk’s competing offer, citing potential infringements of antitrust laws. Pfizer CEO Albert Bourla underscored the strategic significance of the acquisition, stating it positions the company “to define” one of the most impactful therapeutic areas. The company anticipates that the drugs will generate substantial revenue growth. However, analysts have noted that the acquisition will be dilutive through 2030.
Source: MarketScreener