In a bid to catch up in the booming obesity field, Pfizer has agreed to acquire Metsera for an initial enterprise value of US$4.9 B. Through the deal – which includes US$4.9 B upfront and up to US$2.3 B in contingent milestones – Pfizer gains access to a portfolio of next-generation obesity drug candidates, highlighted by a once-monthly GLP-1 agonist that has shown robust weight loss in mid-stage trials. The acquisition marks a second attempt by Pfizer to enter the obesity market, currently dominated by Novo Nordisk and Eli Lilly, by adding both injectable and oral incretin-based therapies to its pipeline.