Pfizer agreed to acquire Metsera in a deal valuing the obesity drug developer at about $10 billion, ending a week-long bidding contest with Novo Nordisk. Pfizer’s amended offer matched rival bids and secured Metsera’s experimental GLP‑1 and amylin programs. Metsera brings clinical-stage injectables and oral candidates that could bolster Pfizer’s entry into the high-value obesity market. Novo Nordisk confirmed it will not increase its offer, signaling a strategic withdrawal after submitting a final $7.6 billion proposal earlier in the process. The outcome consolidates assets and expertise in obesity therapeutics under Pfizer and transfers the regulatory, clinical and commercialization responsibilities for Metsera’s pipeline to a company with large-scale commercial infrastructure. Deal terms and regulatory timing will be watched closely: the acquisition shifts competitive dynamics in obesity and could influence future M&A valuations for metabolic/disease-focused biotechs.