Pfizer to acquire obesity-drug maker Metsera for $4.9bn

US pharmaceutical giant Pfizer announced on Monday, September 22, that it will acquire Metsera, a company developing drugs for obesity and heart disease, in a $4.9 billion deal. The acquisition marks Pfizers push to expand its portfolio and enter the rapidly growing market for obesity treatments. Obesity is a large and growing space with over 200 health conditions associated with it, Pfizer CEO Albert Bourla said in the statement. The proposed acquisition of Metsera aligns with our focus on directing our investments to the most impactful opportunities and propels Pfizer into this key therapeutic area, he added. Under the deal, Pfizer will acquire all outstanding shares of Metsera common stock for $47.50 per share. The transaction is expected to close in the final quarter of this year. Pharmaceutical companies are increasingly targeting the obesity and diabetes medicine sector following the success of Danish firm Novo Nordisks Ozempic and Wegovy drugs, as well as Eli Lillys Zepbound in the US. Pfizer was among the first companies to develop a Covid-19 vaccine, a move that proved hugely profitable. However, its stock has dropped since the pandemic, from $58 a share in December 2021 to $24 at Fridays close in New York. In electronic trading ahead of Wall Streets Monday opening, Pfizer shares rose 1.6 percent, while Metseras stock surged by 60 percent.The post Pfizer to acquire obesity-drug maker Metsera for $4.9bn appeared first on Linda Ikeji Blog.