Pfizer completes $10 billion acquisition of Metsera

Pfizer

Pfizer completed its acquisition of Metsera Pharmaceuticals on November 13, 2025, bringing MET-097i and three other clinical-stage GLP-1 and amylin programs into Pfizer's obesity and cardiometabolic pipeline. The deal totaled up to $10 billion including contingent value rights (CVRs) tied to clinical and regulatory milestones.

• MET-097i showed 12.3% placebo-adjusted weight loss in Phase 2b VESPER-3 trial at 28 weeks; Phase 3 initiation planned for late 2025 or early 2026.
• Metsera founders and investors, including ARCH Venture Partners and Population Health Partners, held out against Novo Nordisk's competing $9 billion bid.
• The acquisition significantly strengthens Pfizer's position in the $100+ billion obesity market alongside its existing portfolio.