Pfizer reached an amended merger agreement to acquire Metsera for about $10 billion, ending a week-long auction that pitted the pharma against Novo Nordisk. Pfizer submitted a final up-to-$10 billion offer that Metsera’s board accepted; Novo Nordisk confirmed it would not increase its bid. The U.S. Federal Trade Commission granted early clearance, clearing a path to a shareholder vote and a near-term close. The agreement transfers Metsera’s obesity and metabolic pipeline — including GLP-1 and amylin candidates — to Pfizer, giving the company immediate entry into a high-growth obesity market. The deal follows intensive negotiation and government engagement and highlights Big Pharma’s urgency to secure next-generation metabolic assets amid competitive pressure from established GLP-1 franchises. Investors and industry analysts are watching integration plans and regulatory timelines closely.