Pfizer completed its acquisition of Metsera in a transaction worth up to $10 billion, gaining the obesity biotech’s fast‑acting amylin/GLP assets and a long‑acting GLP‑1. The deal ends a high‑profile bidding contest that briefly drew interest from Novo Nordisk and placed Metsera’s programs squarely under Pfizer’s commercial and development engine. Pfizer views the acquisition as a strategic expansion into obesity therapeutics, acquiring both near‑term clinical assets and development candidates that complement the company’s metabolic portfolio. The deal follows intense market speculation and a competitive process that pressured bidders to raise offers. The transaction signals continued consolidation in metabolic disease, where big pharma is buying growth through specialty obesity assets. For investors and competitors, the completed sale underscores the willingness of large drugmakers to pay premium prices for differentiated obesity platforms with near‑term regulatory and commercial potential.