Pfizer closed a winning bid for obesity biotech Metsera after a late-stage bidding contest with Novo Nordisk, putting roughly $10 billion on the table. Metsera accepted Pfizer’s increased offer, ending a high-stakes auction that had drawn intense interest because Metsera’s pipeline includes next-generation obesity modalities. Novo Nordisk continued to press its position in the contest, reportedly raising its bid again prior to Pfizer’s victory. The back-and-forth underscores how strategic obesity assets remain targets for major pharmas seeking to expand in a market reshaped by GLP-1 and amylin franchises.