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Pfizer stated on Monday it might purchase weight-loss drug developer Metsera in a deal valued up to $7.3 billion, together with future funds, to safe its place within the profitable weight problems remedy market.
The international weight problems drug market, projected to attain $150 billion by the early 2030s, has boomed over the previous couple of years, pushed by the success of extremely efficient GLP-1-targeting therapies from firms reminiscent of Novo Nordisk and Eli Lilly — each fiercely competing for market dominance.
Drugmakers have additionally been racing to develop next-generation therapies for weight problems, together with medication that focus on different hormones and assist protect muscle whereas shedding fats, to set up their presence out there.
Pfizer CEO Albert Bourla stated Metsera’s acquisition “propels Pfizer into this key therapeutic area” and would leverage the corporate’s cardiometabolic experience and international infrastructure to speed up next-generation weight problems medicines.
The deal follows Pfizer’s latest setbacks in its personal growth efforts with weight-loss tablet danuglipron.
The firm had scrapped the event of a once-a-day model of danuglipron in April after a trial affected person skilled potential drug-induced liver harm, which resolved after the medicine was stopped. It had discontinued the event of a twice-daily model in late 2023 due to varied unwanted effects.
The newest deal may very well be a “meaningful positive for Pfizer, positioning it with a more robust obesity pipeline that could be differentiated on dosing”, BMO Capital analyst Evan Seigerman stated.
Pfizer can pay $47.50 per share in money to Metsera, representing a premium of about 43% to the New York-based firm’s final shut.
Metsera can also be eligible to obtain a further $22.50 per share contingent on the achievement of sure efficiency milestones. Its shares surged practically 60% to $53.16 in premarket buying and selling, whereas Pfizer was up about 2%.
The Financial Times had reported on the deal on Sunday.