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Pfizer is expediting its efforts to delve into the growing obesity treatment field with a nearly $5 billion acquisition.
The company told the Associated Press Monday that it will pay $47.50 in cash for each share of development-stage drugmaker Metsera.
Does Pfizer currently have an obesity drug?
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According to the Associated Press, Pfizer currently has no obesity treatments on the market but has some in clinical development.
Earlier this year, Pfizer told the AP that it was halting development of a potential once-daily pill treatment before it started late-stage testing, which is the most expensive phase of clinical development.
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Metsera Inc. also doesn’t have obesity products on the market, but the AP noted that the company has four programs in clinical development and one in the testing stage. Pfizer explained to the AP that the deal with Mestera will add expertise and possible oral and injectable treatments.
In a statement from Pfizer obtained by the AP, Pfizer CEO Albert Bourla noted that there are over 200 health conditions associated with obesity, which Bourla called “a large and growing space.”
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Pfizer moving into the obesity treatment space comes as consumer demand for it has grown in the past couple of years due to substantial weight loss results. But popular weight loss drugs like Wegovy and Zepbound can get expensive, and industry experts are searching for competition to possibly lower prices.
According to the Associated Press, Pfizer and Mestera expect the acquisition to close in the fourth quarter of 2025, but regulators still must authorize it.
The Source: Information for this story was provided by the Associated Press, which received a statement from Pfizer about the deal. This story was reported from Washington, D.C.