Swiss pharma giant Roche has acquired 89bio for $2.4 billion upfront, with potential milestones taking the total to $3.5 billion, acquiring the late-stage drug pegozafermin for metabolic dysfunction-associated steatohepatitis (MASH). Pegozafermin, a glycopegylated FGF21 analogue, is in Phase 3 trials aiming to reduce liver fat, inflammation, and fibrosis. The purchase advances Roche’s presence in the growing MASH therapeutics market, responding to recent drug approvals and ongoing industry interest. Multiple compounds targeting MASH are in development due to the disease's high prevalence and serious outcomes.