Pfizer to acquire Metsera

Shares of US obesity and cardio-metabolics firm Metsera (Nasdaq: MTSR) leapt 59% to $53.01 in pre-market activity, on news of a takeover bid from pharma giant Pfizer (NYSE: PFE).

The deal, potentially worth up to $7.3 billion, would be the biggest by a large pharma company buying a foothold in the lucrative weight-loss drug market, which is currently dominated by Denmark’s Novo Nordisk (NOV: N) and the USA’s Eli Lilly (NYSE: LLY).

The acquisition brings deep expertise and a portfolio of differentiated oral and injectable incretin, non-incretin and combination therapy candidates with potential best-in-class efficacy and safety profiles. The boards of directors of both Metsera and Pfizer have unanimously approved the transaction.