Pfizer has made a major move to re-enter the obesity drug market by agreeing to acquire Metsera for up to $7.3 billion, including contingencies based on clinical and regulatory milestones. Metsera’s portfolio features injectable and oral therapies with promising efficacy and tolerability profiles. This acquisition follows Pfizer's recent setbacks in developing internal obesity candidates and is poised to bolster its metabolic disease pipeline significantly. The deal includes several advanced-stage candidates, including Phase II GLP-1 receptor agonists and combination therapies targeting obesity and metabolic dysfunction-associated steatohepatitis (MASH). The transaction aligns with Pfizer’s strategic focus on impactful therapeutic areas and is expected to close in Q4 2025 after board approvals.