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Pfizer boosts obesity drug prospects with $7.3 billion deal to buy Metsera
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Pfizer on Monday said it would buy weight loss drugmaker Metsera in an up to $7.3 billion deal, including future payments, as it scrambles to win a slice in the booming obesity drug market.
Pfizer said it will pay an initial $47.50 a share in cash for Metsera, a nearly 43% premium to the biotech company’s Friday’s closing price of $33.32. That gives the deal an enterprise value of $4.9 billion.
The pact also includes a contingent value right worth up to $22.50 a share based on potential clinical and regulatory achievements for Metsera’s medicines, which could bring the total value to $70 a share.
The deal is expected to close at the end of the year. Shares of Metsera rose more than 60% in premarket trading on Monday, while Pfizer’s stock rose more than 1%.
The move comes after a string of setbacks for Pfizer in the obseity space. The pharmaceutical giant struggled to develop its own lead obesity drug candidate, danuglipron, before deciding to scrap it entirely in April due to safety concerns. Pfizer also discontinued a different once-daily pill in June 2023 due to elevated liver enzymes in patients who received it.
Pfizer has earlier-stage obesity drugs in its pipeline that work in different ways, but the company has faced mounting investor pressure to accelerate its push into the market.
The opportunity could be huge. Some analysts expect the weight loss drug space could be worth roughly $100 billion by the 2030s, with room for new rivals to compete with popular injections from Eli Lilly and Novo Nordisk.
Metsera, founded in 2022, brings a pipeline of both oral and injectable treatments with different targets that the company had picked up through its own licensing and acquisition deals. That includes a GLP-1 drug called MET-233i, which helped patients lose up to 8.4% of their weight in 36 days in a small, early-stage trial. Metsera is developing that treatment as a potential once-monthly injectable, meaning that patients can take it less frequently than existing weekly injections.
Metsera’s pipeline also includes a monthly drug targeting a hormone called amylin, along with two oral GLP-1 candidates “expected to begin trials imminently,” Pfizer said in a release.
“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,” Pfizer CEO Albert Bourla said in a statement. “We are excited to apply our deep cardiometabolic experience and manufacturing and commercial infrastructure to accelerate a portfolio that includes potential best-in-class injectables.”
In a note on Monday, Leerink Partners analyst David Risinger said the firm estimates Metsera’s obesity candidates have the potential to generate more than $5 billion in combined peak annual sales. In a separate note on Monday, JPMorgan analyst Chris Schott said Metsera’s experimental drugs “should accelerate” Pfizer’s entry into the market.
The New York-based Metsera went public this year in one of the biggest biotech listings of 2025. It is among several companies racing to develop next-generation obesity treatments following the success of weekly injections such as Eli Lilly’s obesity drug Zepbound and Novo Nordisk’s rival Wegovy.
Beermaker BrewDog could be broken up after consultants were called in to help look for new investors.
The Scotland-based brewer, which makes craft beer such as Punk IPA and Elvis Juice, has appointed consultants AlixPartners to oversee a sale process.
Last month, BrewDog announced it was closing its distilling brands, sparking concerns for jobs at its facility in Ellon, Aberdeenshire.
The company, which was founded in 2007, said it made the decision to focus on its beer products.
No decision has been made in respect of the sale process.
A spokesperson for BrewDog said: “As with many businesses operating in a challenging economic climate and facing sustained macro headwinds, we regularly review our options with a focus on the long-term strength and sustainability of the company.
“Following a year of decisive action in 2025, which saw a focus on costs and operating efficiencies, we have appointed AlixPartners to support a structured and competitive process to evaluate the next phase of investment for the business.
“This is a deliberate and disciplined step with a focus on strengthening the long-term future of the BrewDog brand and its operations.
“BrewDog remains a global pioneer in craft beer: a world-class consumer brand, the number one independent brewer in the UK and with a highly engaged global community.
“We believe that this combination will attract substantial interest, though no final decisions have been made.
“Our breweries, bars, and venues continue to operate as normal. We will not comment on any further speculation.”
Brewdog operates 72 bars around the world as well as four breweries.
New Delhi: The Supreme Court has raised serious concerns over how real estate regulatory authorities are functioning across the country. Taking a sharp view, the top court said it may be “better to abolish” these bodies, suggesting they have failed to protect homebuyers and instead appear to benefit defaulting builders. The court added that states should reconsider the very need for such authorities if they are not serving their intended purpose.
A Bench led by Chief Justice of India Surya Kant and Justice Joymalya Bagchi said states should rethink the original purpose behind introducing RERA. The court observed that instead of protecting homebuyers, the law appears to be helping defaulting builders and not serving its intended role.
Expressing strong concern, CJI Surya Kant said states should reflect on the purpose for which RERA was created. He suggested the institution is failing to serve homebuyers and instead appears to benefit defaulting builders. “All states should now think of the people for whom the institution of RERA was created. Except facilitating builders in default, it is not doing anything else. Better to just abolish this institution,” CJI Kant said, quoted by Bar and Bench.
Last year, the High Court had stayed the state government’s decision to shift the RERA office, pointing out that the move was taken “without even identifying an alternative office location”. The court also noted that transferring 18 outsourced employees to other boards and corporations, as requested, “would render the functioning of Rera defunct”.
The Supreme Court, however, set aside the High Court’s order and allowed the state government to shift the RERA office to Dharamshala. It also permitted the relocation of the appellate tribunal to the same location. “With a view to ensure that persons affected by Rera orders are not inconvenienced, the principal appellate is also moved to Dharamshala,” the apex court said.
What Is RERA And Why It Matters
RERA, introduced in 2016, was aimed at addressing project delays, improving transparency and safeguarding homebuyers’ interests. Earlier, each state and union territory operated its own RERA website. However, in September 2025, the Ministry of Housing and Urban Affairs launched a unified RERA portal that brings together data from across states and UTs on a single platform.
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SEBI proposes stricter base price and band rules for gold, silver ETFs, including cooling-off periods after sharp global price swings to curb volatility.
Amid Global Commodity Volatility, SEBI Plans New Price Band Rules for Gold, Silver ETFs
The market regulator has sought to curb extreme volatility in gold and silver Exchange Traded Funds (ETFs) by proposing changes to the base price and price band framework. Currently, there are no separate price bands for ETFs aligned with their underlying assets, making them vulnerable to sharp price movements.
The proposal comes after sharp volatility in gold and silver ETFs triggered by fluctuations in global commodity prices. On some days, these ETFs fell by over 15%, while on others, they recorded sharp gains.
Stock exchanges currently apply a fixed price band of plus or minus 20% on the base price of ETFs, except for Overnight ETFs investing only in TREPs, which have a price band of plus or minus 5%.
Moreover, the base price for applying price bands to ETFs is taken as the T-2 day closing Net Asset Value (NAV) by exchanges, instead of the T-1 day closing NAV or price, as is the case with indices and individual stocks. This creates a challenge, as the closing NAV of ETFs typically differs between T-1 and T-2 days. Corporate actions such as bonuses and dividends are adjusted manually, increasing the risk of errors.
What Are the Key Proposals?
SEBI has proposed that the base price be determined using either the closing price of the ETF on T-1 day (weighted average price of the last 30 minutes), the closing NAV of T-1 day, or the average indicative NAV (iNAV) of the last 30 minutes of T-1 day.
Further, the regulator has proposed an initial price band of plus or minus 10% for equity and debt ETFs, which can be flexed up to plus or minus 20%. A cooling-off period of 15 minutes will apply, and up to two flexes will be allowed in a day.
For gold and silver ETFs, the regulator has proposed an initial price band of plus or minus 6%, which can be flexed up to plus or minus 20%. This will also include a 15-minute cooling-off period.
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February 14, 2026, 16:08 IST
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