Pfizer prevailed in a high‑stakes auction to acquire Metsera, the obesity‑drug developer, with a bid valued at up to $10 billion. The deal ends a public bidding tussle with Novo Nordisk and gives Pfizer control of Metsera’s GLP‑1/obesity assets and pipeline. Pfizer’s acquisition positions the company to expand in the fast‑growing anti‑obesity market and intensifies competitive pressure among major drugmakers racing to secure differentiated obesity therapeutics. The transaction will be examined for integration risk, development timelines, and how Pfizer plans to scale commercial access amid pricing and policy scrutiny. Investors and rival companies will watch whether the purchase accelerates Metsera’s clinical programs or prompts further consolidation in obesity biotech as incumbents and challengers jockey for market share and distribution strategies.