Pfizer Finalizes Metsera Acquisition... Obesity Treatment Market Enters "Big Three" Era

Investing Over 10 Trillion Won in the Acquisition of a Promising Biotech Firm

Pfizer, the American pharmaceutical company, is set to acquire the biotech firm Metsera, which is developing obesity treatments. With this acquisition, Pfizer is expected to join Novo Nordisk and Eli Lilly, the existing leaders in the global obesity drug sector, potentially reshaping the market into a "big three" structure.

On September 22 (local time), Pfizer announced in a statement that it would acquire Metsera for up to $7.3 billion (approximately 10.1616 trillion won). Pfizer will purchase Metsera shares for $47.50 per share in cash and pay an additional $22.50 per share if certain milestones, such as clinical achievements, are met. This price represents about a 43% premium over Metsera's closing price on September 19, underscoring Pfizer's commitment to entering the obesity treatment market. Following the acquisition news, Metsera's stock price surged by more than 60% in a single day on the New York Stock Exchange, while Pfizer's shares rose by about 1%.

Previously, after the clinical failure of its oral GLP-1 (glucagon-like peptide-1) drug danuglipron, Pfizer has actively pursued mergers and acquisitions to enter the obesity treatment market. Metsera has recently attracted attention among major pharmaceutical companies as a next-generation obesity drug developer. Its main pipeline includes "MET-097i," a long-acting hormone-based GLP-1 injectable that reduces dosing to once a month, and "MET-233i," an amylin analog-based therapy. MET-233i is currently undergoing clinical trials both as a monotherapy and in combination with MET-097i, and in a combined Phase 1/2 clinical trial, it resulted in up to 8.4% weight loss in patients over 36 days.

Through this acquisition, Pfizer expects to rapidly narrow the technological gap with its competitors. Notably, by securing a pipeline targeting next-generation hormone combination therapies, such as amylin and GIP (gastric inhibitory polypeptide), in addition to GLP-1 monotherapy, Pfizer is positioned to significantly impact the future market landscape. Chris Boshoff, Pfizer's Chief Scientific Officer (CSO), stated, "Once-monthly dosing can offer significant advantages not only in weight management efficacy but also in terms of patient convenience and medication adherence."

The reason Pfizer is investing more than 10 trillion won is the growth and profitability of the obesity treatment market. Currently, the global obesity drug market is led by Novo Nordisk's Wegovy and Eli Lilly's Mounjaro and Zepbound. These products have driven sales growth for several years, shaking up the global pharmaceutical industry rankings. Eli Lilly's sales in the second quarter of this year surged 38% year-on-year to $15.56 billion (about 21.6595 trillion won), while Novo Nordisk recorded 38.8 billion Danish kroner (about 8.5402 trillion won) in obesity drug sales in the first half alone. According to global market research firm Grand Research View, the global obesity treatment market was valued at $15.92 billion (about 22.1606 trillion won) last year and is expected to reach $60.53 billion (about 84.2577 trillion won) by 2030. The compound annual growth rate (CAGR) from this year to 2030 is projected to reach 22.31%.

This content was produced with the assistance of AI translation services.