Pfizer is closing in on a potential $7.3bn takeover of anti-obesity drug developer Metsera, which would mark the US pharmaceutical company’s first big deal in two years, in a push to give the drugmaker a foothold in the lucrative weight-loss drug market.
As part of the purchase, Pfizer will pay Metsera $47.50 in cash a share and a further $22.50 if certain performance milestones are met, valuing the company at up to $7.3bn, according to two people familiar with the matter. The deal represents a sizeable premium to Metsera’s Friday share price close of $33.32 in New York.
The acquisition could be announced as early as Monday, provided it does not hit any last-minute snags, the people added. The deal represents a bold attempt by the New York-based drugmaker to buy its way into the lucrative anti-obesity drug market after its own experimental weight-loss drug, known as danuglipron, flopped in clinical trials this year.