Pfizer completed its acquisition of Metsera in a transaction worth up to $10 billion, closing a high‑profile bidding contest with Novo Nordisk. The deal secures Metsera’s obesity portfolio including a fast‑acting amylin analogue and long‑acting GLP‑1 assets, expanding Pfizer’s metabolic disease franchise and filling a strategic gap amid intense competition for obesity therapeutics. The close follows an aggressive two‑week process in which rival suitors sought to outbid Pfizer; the buyout consolidates Metsera’s programs under a large pharma leader and removes a volatile takeover target from the market. The acquisition underscores Big Pharma’s continued willingness to pay for differentiated obesity assets with near‑term commercial potential.