Pfizer finalized a takeover of obesity biotech Metsera in a deal worth up to $10 billion, ending a contentious bidding battle with Novo Nordisk. The acquisition gives Pfizer access to Metsera’s portfolio—highlighting strategic urgency among big pharma to secure next‑generation metabolic and obesity assets. Pfizer announced the close and the commercial rationale centers on expanding its metabolic pipeline with long‑acting incretin and amylin analog capabilities. The transaction underscores continued consolidation in the obesity therapeutic space and shifts competitive dynamics between major drugmakers.