Pfizer to acquire Metsera for $10B, beating out Novo Nordisk

Business Nov 08, 2025

Pfizer just made a big move by agreeing to buy Metsera for up to $10 billion, beating out rival Novo Nordisk after a week-long bidding war.
The deal, announced on November 7, gives Metsera shareholders $86.25 per share and could set Pfizer up for some major wins if certain milestones are hit.

Why Metsera's board chose Pfizer over Novo Nordisk

Metsera's board picked Pfizer's offer over Novo Nordisk mainly because US regulators flagged antitrust risks with the other bid—so Pfizer's deal looked safer.
With this buyout, Pfizer gets promising new obesity drug candidates, giving them a stronger foothold in the fast-growing obesity treatment market.
The merger is expected to wrap up soon after Metsera's shareholder vote on November 13.