Roche announced its acquisition of 89bio in a deal valued up to $3.5 billion, securing the rights to pegozafermin, an experimental treatment for metabolic dysfunction-associated steatohepatitis (MASH). The agreement offers Roche a chance to penetrate the increasingly competitive NASH therapy market. Pegozafermin targets a liver condition stemming from inflammation-induced fibrosis that can progress to cirrhosis and cancer. The transaction includes an upfront equity value of $2.4 billion and contingent payments tied to development and sales milestones. This move demonstrates Roche's commitment to liver disease therapeutics amid growing pharma interest.