Key Takeaways Viking is advancing VK2735 in oral and subcutaneous forms to treat obesity.Pfizer's $4.9B Metsera buy will add four obesity drug programs to its pipeline.Mixed trial results for VKTX's oral VK2735 shift focus to the injectable version.Viking Therapeutics (VKTX) remains one of the few clinical-stage biotechs making meaningful progress in obesity drug development. The company is developing VK2735, an investigational novel dual GLP-1 and GIP receptor agonist (RA), in multiple clinical studies as ...

来源：市场资讯 根据收购协议，辉瑞将以每股47.50美元的现金价格收购Metsera，这一价格较这家总部位于纽约的公司 上一交易日收盘价溢价约43%。 此外，若特定业绩里程碑达成，Metsera股东还可额外获得每股22.50美元的款项。消息公布后，Metsera 股价飙升逾60%，至53.8美元，而辉瑞股价上涨约2%。 该交易预计将于2025年第四季度完成。 （来源：医趋势） 9月22日，辉瑞宣布将收购创新药企Metsera，交易总价最高可达73亿美元（含后续款项）。此举旨在帮 助辉瑞在快速增长的肥胖治疗市场中稳固地位。 据市场分析，预计到2030年初，全球肥胖药物市场规模将达到1500亿美元。目前，该市场增长主要受诺 和诺德（Novo Nordisk）、礼来（Eli Lilly）等公司的GLP-1类疗法快速普及推动。当前，各大药企正竞 相研发下一代肥胖治疗药物，其中就包括能帮助患者在减脂的同时维持肌肉量的激素类药物。 辉瑞首席科学官Chris Boshoff表示："一款耐受性良好且可每月给药的药物将具备巨大优势——这不仅 体现在患者体重的维持上，还能提升用药便利性与患者依从性。" 此前，辉瑞自研的减重药物d ...

Core Insights - Pfizer (PFE) has announced a definitive agreement to acquire Metsera (MTSR), a developer of obesity drugs, to re-enter the obesity market after discontinuing its own weight-loss pill, danuglipron [1][5]. Company Summary - Pfizer will acquire Metsera's shares for $47.50 per share, totaling an enterprise value of $4.9 billion, with an additional contingent value right (CVR) of up to $22.50 per share based on clinical and regulatory milestones [2][10]. - The acquisition includes Metsera's four clinical-stage programs, notably the GLP-1 receptor agonist MET-097i, which is currently in phase II studies [3][10]. - The boards of both companies have unanimously approved the transaction, expected to close in Q4 2025, pending shareholder approvals [4]. Industry Summary - The obesity market is projected to grow to $100 billion by 2030, with Eli Lilly (LLY) and Novo Nordisk (NVO) currently leading the market with their GLP-1 injections [6]. - Other companies, including Amgen and Viking Therapeutics, are also developing advanced GLP-1-based candidates in late-stage studies [7]. - Metsera's products are in early development stages, with potential market entry around 2028-2029, indicating that Pfizer may lag behind competitors in this highly competitive space [8]. - Other large pharmaceutical companies, such as AbbVie, Roche, and Merck, are also entering the obesity market through licensing deals with smaller biotech firms [9][11][12].

Core Viewpoint - Pfizer has acquired Metsera for up to $4.9 billion to strengthen its position in the weight loss treatment market, focusing on longer-lasting glucagon-like peptide-1 receptor agonists (GLP-1RAs) [1][7] Acquisition Details - Pfizer will purchase Metsera's shares at $47.50 each, a 43% premium over Metsera's closing price of $33.32 on September 19, with the deal expected to close in Q4 2025 [2] - Additional payments of up to $22.50 per share are contingent on achieving specific clinical and regulatory milestones related to Metsera's weight loss drug portfolio [2][6] Market Impact - Following the announcement, Metsera's stock rose 36.6% to $52.59, while Pfizer's shares increased by 1% at market open [3] - Pfizer's market capitalization stands at $139.5 billion [3] Metsera's Product Pipeline - Metsera has developed injectable and oral peptides for weight loss, with a focus on less frequent dosing, targeting monthly administration instead of the weekly dosing typical of current therapies [3][4] - The lead candidate, MET-097i, is in Phase II development and has shown promising weight loss results after 12 weeks [5] - Metsera also has two oral GLP-1RA candidates set to begin clinical trials soon [6] Strategic Positioning - The acquisition positions Pfizer at the forefront of next-generation obesity treatments, aiming to differentiate its offerings in a market currently dominated by Novo Nordisk and Eli Lilly [7]

Acquisition of Metsera - Pfizer plans to acquire Metsera, Inc, with the transaction expected to close in 4Q 2025 and drive growth from the late 2020s and beyond[16] - The acquisition will be funded primarily with available cash and proceeds from new debt and is not expected to impact Pfizer's credit rating[19] - The enterprise value is based on Metsera's June 30 reported cash balance of approximately $500 million[19] Pipeline and Clinical Trials - Pfizer and Roche have a global collaboration for the p40 x TL1A bispecific antibody (PF-07261271)[23] - Pivotal trials are ongoing or initiation is planned before or during 1H 2026 for several drug candidates[22] - MET-097i is a fully biased ultra-long-acting next-generation GLP-1 receptor agonist[33] MET-097i Clinical Data - In a Phase 2a trial, a monthly dose of MET-097i after 12 weekly doses was well tolerated with continued weight loss observed[38] - Phase 1 data demonstrate robust efficacy and placebo-like tolerability at potential starting doses for MET-233i[41] - Placebo-adjusted weight change in adherence to treatment subgroup was -14.2% with 1.2 mg → 4.8 mg of MET-097i[40] Market Opportunity - Obesity and associated conditions are on track to become among the largest pharmaceutical opportunities[27] - The acquisition aligns with Internal Medicine R&D strategy and expertise, leveraging significant primary care commercial infrastructure and field force[27] - The deal structure is risk-managed using a Contingent Value Right (CVR), sharing risk and upside with Metsera shareholders[28] - The acquisition has the potential for attractive returns for Pfizer shareholders[28] - The acquisition targets a market impacting over 1 billion lives globally[48]

This story was originally published on BioPharma Dive. To receive daily news and insights, subscribe to our free daily BioPharma Dive newsletter. Dive Brief: Pfizer is back in the obesity drug chase, announcing Monday it will pay $4.9 billion, and potentially more, to buy Metsera and its portfolio of weight loss medicines. Per deal terms, Pfizer will pay $47.50 for each Metsera share, more than double the $18 price the company debuted at following an initial public offering in January. Metsera shareho ...

"Obesity is a large and growing space with over 200 health conditions associated with it. The proposed acquisition of Metsera aligns with our focus on directing our investments to the most impactful opportunities and propels Pfizer into this key therapeutic area,†said Albert Bourla, Chairman and Chief Executive Officer, Pfizer. "We are excited to apply our deep cardiometabolic experience and manufacturing and commercial infrastructure to accelerate a portfolio that includes potential best-in-class injectabl ...

Group 1: Acquisition Details - Pfizer Inc. is nearing a $7.3 billion acquisition of Metsera Inc., a biotech firm focused on obesity treatments, with a cash offer of $47.50 per share and an additional $22.50 per share based on performance milestones [1] - The acquisition is part of Pfizer's strategy to re-enter the obesity drug market after previously discontinuing its own candidate due to safety concerns [3] Group 2: Metsera's Product and Market Position - Metsera, founded in 2022, is developing injectable and oral hormone analog peptides for obesity treatment, with its lead candidate, MET-097i, showing an average weight loss of 11.3% in mid-stage trials [2] - The drug's once-monthly dosing schedule may provide a competitive advantage over existing weekly GLP-1 injections [2] Group 3: Market Context and Future Outlook - The global demand for weight-loss therapies is projected to reach $150 billion by the early 2030s, positioning Pfizer to compete with major players like Eli Lilly and Novo Nordisk [3] - The deal highlights the increasing reliance of big pharma on biotech innovation to stay competitive in high-growth therapeutic areas [4]

Core Insights - Metsera, Inc. (NASDAQ:MTSR) is recognized as a leading player in the biotech sector, focusing on innovative treatments for obesity and metabolic diseases [1][2] - The company's lead candidate, MET-233i, demonstrated significant efficacy in Phase 1 trials, with patients achieving up to 8% body weight reduction over five weeks [2][3] - MET-233i's extended half-life allows for once-monthly dosing, enhancing patient convenience and adherence compared to existing therapies [2] - Another promising asset, MET-097i, is undergoing multiple Phase 2b trials, with results anticipated later in 2025 and Phase 3 trials set to commence by year-end [3] Company Developments - Metsera, Inc. is developing next-generation injectable and oral hormone analog peptides aimed at improving treatment outcomes for obesity [1] - The company is preparing to present data from its ongoing trials at medical and investor conferences, indicating a growing interest in its scientific advancements [3]

Core Insights - Metsera, Inc. is set to present clinical and preclinical data on its next-generation therapies for obesity and metabolic diseases at the 61st Annual Meeting of the European Association for the Study of Diabetes (EASD) from September 15-19, 2025 in Vienna, Austria [1][2] Company Overview - Metsera is a clinical-stage biopharmaceutical company focused on developing innovative medicines for obesity and metabolic diseases, founded in 2022 and based in New York City [4] - The company is advancing a diverse portfolio of oral and injectable therapies, including incretin and non-incretin options, aimed at addressing multiple therapeutic targets in the evolving weight loss treatment landscape [4] Clinical and Preclinical Presentations - The company will present a late-breaking oral presentation on the pharmacokinetics, weight loss, and tolerability of its ultra-long acting amylin analog MET-233i on September 17, 2025 [3] - Two preclinical presentations will focus on the combination of MET-233i with MET-097i, an ultra-long acting GLP-1 receptor agonist, showcasing significant weight loss in preclinical studies [2][3]