Pfizer Stock Draws Focus On Report Of $7.3B Deal Plan For Metsera Buyout As Obesity Drug Race With Lilly, Novo Heats Up

Pfizer is reportedly preparing to buy weight-loss biotech Metsera in a deal that could be worth as much as $7.3 billion.

The New York-based drugmaker would apparently pay $47.50 a share upfront and another $22.50 tied to milestones, a sharp premium to Metsera’s recent price of $33.32. An announcement could come as early as Monday, barring last-minute delays, according to a Financial Times report, which cited two people familiar with the matter.

The move comes after Pfizer scrapped its own obesity drug candidate, danuglipron, earlier this year. Metsera, which is listed in one of 2025’s biggest biotech IPOs, has drawn interest across the sector with MET-097i, a GLP-1 therapy that produced 11.3% weight loss over 12 weeks in a mid-stage trial. 

The company is also developing a monthly version of the shot, an amylin-based treatment aimed at avoiding muscle loss, and an oral pill. Pfizer shares, now worth about half their 2021 pandemic peak, closed Friday at $24, valuing the company at $136 billion. 

CEO Albert Bourla has been under pressure to reignite growth, with Pfizer’s last major deal being the $43 billion purchase of cancer drugmaker Seagen in 2023. A Metsera acquisition would put it in direct competition with Eli Lilly and Novo Nordisk, whose blockbuster GLP-1 drugs Zepbound and Wegovy are expanding into pill form.

On Stocktwits, retail sentiment for both Pfizer and Metsera was ‘bullish’, with message volume ‘normal’ for Pfizer and ‘high’ for Metsera.

One user labeled the reported deal value a “lousy premium” to Metsera’s recent trading levels and argued the company’s management may be selling too cheaply. The user added that Pfizer may have avoided a bigger gamble on Viking Therapeutics ahead of late-stage trials.

Another bullish user said that the acquisition could ultimately be seen as an $80-per-share buyout opportunity.

While Pfizer’s stock has declined 4.6% so far in 2025, Metsera’s stock has risen 25.7% over the same period.

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