Pfizer Finalizes $7 Billion Acquisition of Metsera

Pfizer said on Thursday that it has finalized its previously disclosed acquisition of Metsera, Inc., a Delaware-based company, for an enterprise valuation of approximately $7 billion. The deal was completed under the terms of a merger agreement signed on September 21, 2025, and amended on November 7, 2025.

According to the agreement, each share of Metsera common stock, except for certain specified shares, was converted into the right to receive $65.60 in cash at closing. Additionally, shareholders received one non-transferable contingent value right per share, which allows them to receive additional cash payments of up to $20.65 per share if the company achieves three specific goals. 

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The contingent value rights include the following goals: a payment of $4.60 per share upon the initiation of a Phase 3 clinical trial for Metsera’s injectable GLP-1 receptor antagonist MET-097i in combination with amylin analog MET-233i; a payment of $6.40 per share upon US Food and Drug Administration (FDA) approval of Metsera’s monthly MET-0971 monotherapy; and a payment of $9.65 per share upon FDA approval of the MET-097i and MET-233i monthly combination.