Roche has agreed to acquire 89bio in a deal totaling up to $3.5 billion, gaining access to pegozafermin, a phase 3-stage FGF21 analogue targeting metabolic dysfunction-associated steatohepatitis (MASH). The acquisition positions Roche to compete aggressively in the growing MASH market alongside therapies like Madrigal's Rezdiffra and Novo Nordisk’s recently FDA-approved Wegovy. Pegozafermin, currently in global phase III trials, has shown promise in reducing liver fibrosis and inflammation and reversing scarring in Phase II studies. Roche aims to leverage this asset to build a robust cardiometabolic disease portfolio, anticipating peak annual sales in the multi-billion dollar range.