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Pfizer to Buy Metsera for $4.9 Billion in Obesity Drug Bet
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The Business of Fashion
Shares in Metsera extended gains to rise 61 percent in premarket trading on Monday, while Pfizer climbed 1.6 percent.
AbbVie Inc. is also betting on amylin after agreeing to buy Gubra A/S for up to $2.2 billion in March.
ADVERTISEMENTAmylin has been a bright spot as other recent obesity trials have had disappointing results.
Viking Therapeutics Inc. was once seen as a possible takeout target for Pfizer, but a recent trial showed high rates of side effects, dampening hopes for a deal.
“While we are positive on the possibility of Pfizer re-entering the obesity market in a meaningful way, we note Metsera’s assets remain early and have yet to be derisked by a large dataset,” he said.
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