Pfizer announces intention to acquire Metsera for up to $10 billion to expand GLP-1 portfolio

Pfizer

Pfizer announced it would acquire Metsera Pharmaceuticals in an all-cash transaction valued at up to $10 billion, including $7.3 billion at signing and contingent value rights tied to clinical and regulatory milestones. The acquisition brings MET-097i, a monthly injectable GLP-1, plus three other clinical-stage candidates to Pfizer's obesity and cardiometabolic pipeline.

• MET-097i is a weekly and monthly injectable GLP-1 receptor agonist about to begin Phase 3 development, addressing the obesity market where Pfizer lacked a major program.
• Metsera also has three additional clinical-stage candidates: MET-233i (monthly amylin analog), an oral GLP-1 RA in Phase 1, and preclinical nutrient-stimulated hormone therapeutics.
• Total deal value of ~$10 billion makes this one of the largest biotech M&A transactions in 2025.
• Metsera was founded in 2022 and is based in South San Francisco, with $290 million raised from ARCH Venture Partners, Population Health Partners and others.