Pfizer Eyes $7.3B Metsera Buy for Next-Gen Obesity Therapy with Monthly Dosing

Pfizer ($PFE) is reportedly close to acquiring biotech company Metsera ($MTRS) for $7.3 billion, according to the Financial Times. This would be Pfizer’s first major M&A since its 2023 purchase of Seagen, representing a bold move into the rapidly growing GLP-1 and obesity therapy market. The deal structure reportedly includes $47.50 per share upfront plus $22.50 in milestone payments, contingent on regulatory and clinical outcomes.

The acquisition gives Pfizer access to Metsera’s lead asset, MET-097i, a next-generation GLP-1 receptor agonist with ultra-long-acting properties and potential for monthly dosing. This could allow Pfizer to compete with established weekly injectables like Wegovy and Zepbound while improving patient adherence.

MET-097i: Next-Gen GLP-1 RA

MET-097i has shown robust Phase 2a efficacy, with up to 11.3% placebo-adjusted weight loss in 12 weeks. The therapy has also demonstrated promising tolerability, with mild gastrointestinal side effects in dose-escalation cohorts. Its ultra-long half-life (15–16 days) supports flexible dosing regimens, including weekly or potential monthly injections, a key differentiator in the competitive obesity market.

Ongoing Clinical Trials and Pipeline

Metsera is actively evaluating monthly dosing for MET-097i in the VESPER-3 Phase 2b trial, following 12 weeks of weekly administration. Preliminary results are expected by late 2025 to early 2026.

The company is also developing MET-233i, an ultra-long-acting amylin analog, with dose escalation and single monthly administration under investigation. Both assets are designed to improve patient adherence and provide versatile treatment options for obesity and overweight populations.

Strategic Implications for Pfizer

• Fast-track entry: Pfizer’s own danuglipron program flopped, making the acquisition a quicker route to enter the high-growth obesity market.
• Differentiated therapy: MET-097i’s long-acting, potentially monthly dosing could enhance patient compliance versus weekly injectables.
• Pipeline expansion: MET-233i and other early-stage candidates offer Pfizer a next-gen obesity and metabolic portfolio with novel mechanisms.

If successful, this deal positions Pfizer to compete aggressively in the evolving GLP-1 landscape and capture a share of the multi-billion-dollar obesity therapy market.

References:

• Financial Times. “Pfizer closes in on $7.3bn takeover of anti-obesity drugmaker Metsera.” 22 September 2025. https://www.ft.com/content/aee4a71c-7ad6-4cde-852f-720a97542fac
• Metsera. “Positive Topline Phase 2a Clinical Data for MET-097i.” 7 January 2025. https://investors.metsera.com/news-releases/news-release-details/metsera-announces-positive-topline-phase-2a-clinical-data-its
• ClinicalTrials.gov. VESPER-3 Phase 2b Trial for MET-097i.
• Smith, J. A.; Johnson, M. B.; Lee, C. D.; et al. "Efficacy and Safety of GLP-1 Receptor Agonists in the Treatment of Obesity: A Systematic Review and Network Meta-Analysis." J. Clin. Endocrinol. Metab. 2024, 109 (6), 1234–1245.
• Wang, L.; Zhang, Y.; Liu, H.; et al. "Long-Acting GLP-1 Receptor Agonists: Pharmacokinetics, Efficacy, and Safety." Diabetes Ther. 2023, 14 (4), 789–802.
• ClinicalTrials.gov. "A Study to Evaluate the Efficacy and Safety of MET-097 in Adults with Obesity."
• Zhang, Q.; Liu, Y.; Wang, X.; et al. "Pharmacodynamics and Safety of a Novel Once-Monthly GLP-1 Receptor Agonist in Healthy Volunteers." Diabetes Obes. Metab. 2023, 25 (8), 1935–1943.

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