No. of Recommendations: 2
Pfizer to Acquire Metsera and its Next-Generation Obesity Portfolio. Includes monthly and quarterly dosing, oral and injectable options.
Under the terms of the agreement, Pfizer will acquire all outstanding shares of Metsera common stock for $47.50 per share in cash at closing, representing an enterprise value of approximately $4.9 billion. Additionally, the agreement includes a non-transferable contingent value right (CVR) entitling holders to potential additional payments of up to $22.50 per share in cash tied to three specific clinical and regulatory milestones: $5 per share following the Phase 3 clinical trial start of Metsera’s MET-097i+MET-233i combination, $7 per share following U.S. Food and Drug Administration (FDA) approval of Metsera’s monthly MET-097i monotherapy, and $10.50 per share following FDA approval of Metsera’s monthly MET-097i+MET-233i combination, if achieved. The transaction is expected to close in the fourth quarter of 2025, subject to the satisfaction of customary closing conditions, including receipt of required regulatory approvals and approval by Metsera’s shareholders. Pfizer will provide any updates to its financial outlook in conjunction with its upcoming quarterly earnings.
IMHO a nice pick-up! It’s a good (not great) exit for the MTSR shareholders: good valuation, but half up-front, and the other half only if and when key government approvals are granted. A big payday for them if all goes well, and PFE gets a set of treatments it can scale on pretty reasonable terms. So hopefully a win-win. If anyone has sales projections, let us know.
https://www.businesswire.com/news/home/20250922965...abromber
