Pfizer is close to acquiring Metsera, a weight-loss drug developer based in New York, for up to US$7.3 billion, according to a Financial Times report citing unnamed sources.

The proposed deal involves Pfizer paying US$47.50 per share in cash and an additional US$22.50 per share if Metsera meets certain milestones.

The acquisition could be announced as soon as September 22, unless negotiations break down.

The US$47.50-per-share offer is about 42.5% higher than Metsera’s closing price on September 19, which valued the company at around US$3.5 billion.

Metsera went public on Nasdaq earlier this year and focuses on developing injectable and oral drugs for obesity, including its lead candidate MET-097i.

Pfizer’s move comes after it ended development of its own experimental weight-loss pill, danuglipron, due to safety concerns.

🔗 Source: Reuters