Pfizer won a competitive acquisition for obesity drug developer Metsera with an up‑to‑$10 billion offer, outbidding Novo Nordisk and resolving a high‑stakes contest that had included litigation. The agreed price of up to $86.25 per share secures Metsera’s next‑generation obesity candidates for Pfizer’s metabolic portfolio. The deal reflects intense strategic M&A activity in obesity therapeutics as major pharmas race to secure differentiated agents and expand market share. Pfizer said the acquisition accelerates its presence in weight‑loss medicine; analysts will focus on pipeline fit, integration plans and anticipated regulatory timelines.