The $10B Metsera Deal and Pfizer's Obesity Comeback

After a high-profile failure of its oral GLP-1 candidate danuglipron, Pfizer reset its obesity strategy with a $10 billion acquisition of Metsera in late 2025 — winning a bidding war against Novo Nordisk. The deal repositions Pfizer in the fastest-growing therapeutic area in pharma. Candidates for any cardiometabolic, commercial, R&D, or strategy role should understand this comeback story.