Proposed acquisition to add four highly differentiated clinical-stage incretin and amylin programs to Pfizer’s pipeline

拟议的收购将为辉瑞的管线增加四个高度差异化的临床阶段胰岛素和淀粉样蛋白项目

Transaction valued at $47.50 per Metsera share in cash upon closing, for an initial enterprise value of $4.9 billion with a CVR of up to $22.50 per share in additional payments

交易在结束时以每股47.50美元的现金价格收购Metsera股票，初始企业价值为49亿美元，并附带每股最高22.50美元的或有支付额外款项（CVR）。

Pfizer to host a public webcast at 8 am EDT today

辉瑞公司将在今天东部时间上午8点举办公开网络直播。

NEW YORK--(BUSINESS WIRE)--

纽约--（商业资讯）--

Pfizer Inc. (NYSE: PFE) and Metsera, Inc. (NASDAQ: MTSR) today announced the companies have entered into a definitive agreement under which Pfizer will acquire Metsera, a clinical-stage biopharmaceutical company accelerating the next generation of medicines for obesity and cardiometabolic diseases. The acquisition brings deep expertise and a portfolio of differentiated oral and injectable incretin, non-incretin and combination therapy candidates with potential best-in-class efficacy and safety profiles.

辉瑞公司（纽约证券交易所代码：PFE）和梅特塞拉公司（纳斯达克代码：MTSR）今天宣布，两家公司已达成一项最终协议，根据该协议，辉瑞将收购梅特塞拉，这是一家临床阶段的生物制药公司，致力于加速开发下一代用于肥胖和心代谢疾病的药物。此次收购带来了深厚的专业知识和一系列差异化的口服及注射类肠促胰岛素、非肠促胰岛素以及联合疗法候选药物，这些药物具有潜在的最佳疗效和安全性特征。

The Boards of Directors of both Metsera and Pfizer have unanimously approved the transaction..

梅特塞拉和辉瑞的董事会一致批准了该交易。

“Obesity is a large and growing space with over 200 health conditions associated with it. 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,” said Albert Bourla, Chairman and Chief Executive Officer, Pfizer.

“肥胖症是一个巨大且不断增长的领域，与之相关的健康状况超过200种。收购Metsera的计划符合我们将投资集中于最具影响力的机会的战略，并推动辉瑞进入这一关键治疗领域，”辉瑞公司董事长兼首席执行官Albert Bourla表示。

“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, with clinical data differentiated by efficacy, tolerability and durability supporting monthly dosing, with the aim to address the ongoing unmet needs associated with obesity and related diseases.”.

“我们很高兴能够运用我们在心血管代谢方面的深厚经验以及生产和商业基础设施，来加速推进一个包含潜在最佳注射药物的组合，这些药物的临床数据在疗效、耐受性和持久性上表现出差异化，支持每月一次的给药方案，旨在解决与肥胖及相关疾病相关的持续未满足需求。”

Metsera has a portfolio of promising therapeutic candidates and combinations with four programs in clinical development and several next-generation programs with IND-enabling studies ongoing, aimed at addressing key unmet needs via fewer injections while achieving improved efficacy and tolerability.

Metsera拥有一个包含多种有前景的治疗候选药物和组合方案的研发管线，其中四个项目处于临床开发阶段，还有若干下一代项目正在进行IND支持性研究，目标是通过减少注射次数来满足关键的未满足需求，同时实现更好的疗效和耐受性。

This includes MET-097i, a weekly and monthly injectable GLP-1 receptor agonist (RA), both in Phase 2 development; MET-233i, a monthly amylin analog candidate being evaluated as monotherapy and in combination with MET-097i in Phase 1 development; two oral GLP-1 RA candidates expected to begin clinical trials imminently; and additional preclinical nutrient-stimulated hormone therapeutics.

这包括处于二期开发阶段的每周和每月注射一次的GLP-1受体激动剂（RA）MET-097i；正在一期开发中作为单一疗法并与MET-097i联合评估的每月一次的类淀粉肽类似物候选药物MET-233i；两种预计即将开始临床试验的口服GLP-1 RA候选药物；以及额外的临床前营养刺激激素疗法。

Initial Phase 1 clinical results for MET-233i showcasing a potential best-in-class profile were presented on September 17 as a late-breaker at the 61.

9月17日，MET-233i的初步一期临床结果在第61届大会上作为最新突破性研究展示，展现了潜在的最佳类别特征。

st

街道

Annual Meeting of the European Association for the Study of Diabetes (EASD).

欧洲糖尿病研究协会 (EASD) 年会。

Under the terms of the agreement, Pfizer will acquire all outstanding shares of Metsera common stock for $47.50 per share in cash at closing, representing an enterprise value of approximately $4.9 billion. Additionally, the agreement includes a non-transferable contingent value right (CVR) entitling holders to potential additional payments of up to $22.50 per share in cash tied to three specific clinical and regulatory milestones: $5 per share following the Phase 3 clinical trial start of Metsera’s MET-097i+MET-233i combination, $7 per share following U.S.

根据协议条款，辉瑞将以每股 47.50 美元的现金收购 Metsera 所有已发行的普通股，企业估值约为 49 亿美元。此外，协议还包括一项不可转让的或有价值权 (CVR)，持有人可获得与三个特定临床和监管里程碑相关的最高每股 22.50 美元的潜在额外付款：在 Metsera 的 MET-097i+MET-233i 联合疗法 III 期临床试验开始后为每股 5 美元，在美国获得相关进展后为每股 7 美元。

Food and Drug Administration (FDA) approval of Metsera’s monthly MET-097i monotherapy, and $10.50 per share following FDA approval of Metsera’s monthly MET-097i+MET-233i combination, if achieved. The transaction is expected to close in the fourth quarter of 2025, subject to the satisfaction of customary closing conditions, including receipt of required regulatory approvals and approval by Metsera’s shareholders.

美国食品药品监督管理局（FDA）批准Metsera的每月一次MET-097i单药疗法，以及在FDA批准Metsera的每月一次MET-097i+MET-233i组合疗法后每股10.50美元，若达成条件。本次交易预计将在2025年第四季度完成，但需满足惯例的交割条件，包括获得所需的监管批准以及Metsera股东的批准。

Pfizer will provide any updates to its financial outlook in conjunction with its upcoming quarterly earnings..

辉瑞将在其即将到来的季度财报中提供对其财务展望的任何更新。

“Since our founding in 2022, Metsera has worked tirelessly to reduce the physical, emotional, and economic burdens of obesity with a portfolio of next generation nutrient-stimulated hormone therapeutic candidates. Our team has invented and developed multiple injectable and oral candidate medicines and a category-leading peptide engineering platform, which together promise class-leading performance in a major sector of population health,” said Whit Bernard, Co-Founder and Chief Executive Officer of Metsera.

“自2022年成立以来，Metsera一直致力于通过一系列下一代营养刺激激素治疗候选药物，减轻肥胖带来的身体、情感和经济负担。我们的团队已经发明并开发了多种注射和口服的候选药物，以及一个领先的肽工程平台，这些共同承诺在人口健康的一个主要领域中提供业内领先的表现，”Metsera联合创始人兼首席执行官惠特·伯纳德表示。

“Today’s announcement sets a path for our portfolio to potentially transform the lives of hundreds of millions of people and represents an excellent outcome for our shareholders. We look forward to joining forces with Pfizer to leverage their global clinical, regulatory, manufacturing and commercial capabilities to realize the promise of improved human health at scale.”.

“今天的公告为我们的产品组合设定了一个可能改变亿万人生活的路径，并为我们的股东带来了极好的结果。我们期待与辉瑞携手，利用其全球临床、监管、制造和商业能力，实现改善人类健康的大规模承诺。”

Citi is acting as Pfizer’s financial advisor for the transaction with Wachtell, Lipton, Rosen & Katz acting as legal advisor. Metsera’s financial advisors for the transaction are Goldman Sachs & Co. LLC, Guggenheim Securities, LLC, BofA Securities, Inc., and Allen & Company LLC with Paul, Weiss, Rifkind, Wharton & Garrison LLP acting as legal advisor..

花旗集团担任辉瑞在此次交易中的财务顾问，沃奇尔·利普顿·罗森·卡茨律师事务所担任法律顾问。梅特塞拉在此次交易中的财务顾问是高盛公司、古根海姆证券有限责任公司、美银证券公司和艾伦公司，而保罗·韦斯·里夫金德·沃顿·加里森律师事务所担任法律顾问。

Investor Call Details

投资者电话详情

Pfizer Inc. invites Pfizer investors and the general public to view and listen to a webcast of a live conference call with investment analysts at 8 a.m. EDT on Monday, September 22, 2025.

辉瑞公司邀请辉瑞公司的投资者和公众在2025年9月22日星期一美国东部时间上午8点观看并收听与投资分析师的现场电话会议的网络直播。

To view and listen to the webcast visit Pfizer’s web site at

要查看和收听网络广播，请访问辉瑞公司的网站。

www.pfizer.com/investors

www.pfizer.com/investors

or directly at

或者直接在

https://onlinexperiences.com/Launch/QReg/ShowUUID=7F348066-0A7A-4167-A63D-F43BA26B6867&LangLocaleID=1033&GroupID=Onyx

https://onlinexperiences.com/Launch/QReg/ShowUUID=7F348066-0A7A-4167-A63D-F43BA26B6867&LangLocaleID=1033&GroupID=Onyx

. Information on accessing and pre-registering for the webcast will be available at

获取和预先注册网络直播的信息将在以下位置提供

www.pfizer.com/investors

www.pfizer.com/investors

beginning today. Participants are advised to pre-register in advance of the conference call.

从今天开始。建议参与者在电话会议之前预先注册。

You can listen to the conference call by dialing either 800-456-4352 in the United States or Canada or 785-424-1086 outside of the United States and Canada. The password is “73086.” Please join the call five minutes prior to the start time to avoid operator hold times.

您可以通过拨打美国或加拿大的800-456-4352，或美国和加拿大以外地区的785-424-1086来收听电话会议。密码是“73086”。为避免接线员等待时间，请在开始前五分钟加入通话。

The transcript and webcast replay of the call will be made available on Pfizer’s web site at

电话会议的记录和网络直播回放将在辉瑞公司的网站上提供。

www.pfizer.com/investors

www.pfizer.com/investors

within 24 hours after the end of the live conference call and will be accessible for at least 90 days.

在现场电话会议结束后的24小时内，并且至少90天内可访问。

About Metsera

关于Metsera

Metsera is a clinical-stage biopharmaceutical company accelerating the next generation of medicines for obesity and metabolic diseases. Metsera is advancing a broad portfolio of oral and injectable incretin, non-incretin and combination therapies with potential best-in-class profiles to address multiple therapeutic targets and meet the future needs of a rapidly evolving weight loss treatment landscape.

梅特塞拉是一家临床阶段的生物制药公司，致力于加速开发下一代用于治疗肥胖症和代谢性疾病的药物。梅特塞拉正在推进一系列口服和注射类肠促胰素、非肠促胰素及联合疗法的广泛组合，这些疗法具有潜在的同类最佳特性，旨在针对多个治疗靶点，满足快速演变的减肥治疗领域的未来需求。

Metsera was founded in 2022 and is based in New York City. For more information, please visit us at .

Metsera 成立于2022年，总部位于纽约市。欲了解更多信息，请访问我们的网站。

www.metsera.com

www.metsera.com

.

。

About Pfizer: Breakthroughs That Change Patients’ Lives

关于辉瑞：改变患者生活的突破性进展

At Pfizer, we apply science and our global resources to bring therapies to people that extend and significantly improve their lives. We strive to set the standard for quality, safety and value in the discovery, development and manufacture of health care products, including innovative medicines and vaccines.

在辉瑞，我们运用科学和全球资源，为人们带来能够延长生命并显著改善生活的疗法。我们努力在医疗保健产品的发现、开发和生产过程中，为质量、安全性和价值设定标准，这些产品包括创新药物和疫苗。

Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as one of the world's premier innovative biopharmaceutical companies, we collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world.

每一天，辉瑞的员工都在发达市场和新兴市场开展工作，推动健康、预防、治疗和攻克当今最令人恐惧的疾病。作为全球首屈一指的创新型生物制药公司之一，我们与医疗保健提供者、政府和当地社区合作，支持并扩大全球范围内可靠且负担得起的医疗保健服务的可及性。

For 175 years, we have worked to make a difference for all who rely on us. We routinely post information that may be important to investors on our website at .

175年来，我们一直致力于为所有依赖我们的人带来改变。我们经常在我们的网站上发布可能对投资者重要的信息。

www.Pfizer.com

www.Pfizer.com

.

。

In addition, to learn more, please visit us on

此外，要了解更多信息，请访问我们网站

www.Pfizer.com

www.Pfizer.com

and follow us on X at

并在X上关注我们

@Pfizer

@辉瑞

and

和

@Pfizer News

@辉瑞新闻

,

，

LinkedIn

领英

,

，

YouTube

YouTube

and like us on Facebook at

并在 Facebook 上关注我们

Facebook.com/Pfizer

Facebook.com/辉瑞

.

。

Disclosure Notice:

披露通知：

The information contained in this release is as of September 22, 2025.

本新闻稿中的信息截至2025年9月22日。

This release contains forward-looking information about, among other topics, Pfizer’s proposed acquisition of Metsera, Pfizer’s and Metsera’s pipeline products, including their potential benefits, potential best-in-class status, differentiation, profile and dosing, potential clinical trials, and the anticipated timing of completion of the proposed acquisition, that involves substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements.

本发布包含关于辉瑞拟收购梅特塞拉、辉瑞和梅特塞拉的在研产品管线（包括其潜在益处、潜在的同类最佳地位、差异化特点、特性及剂量、潜在的临床试验以及拟议收购预计完成时间）等主题的前瞻性信息，这些信息涉及重大风险和不确定性，可能导致实际结果与这些声明所表达或暗示的内容有重大差异。

Risks and uncertainties include, among other things, risks related to the satisfaction or waiver of the conditions to closing the proposed acquisition (including the failure to obtain necessary regulatory approvals and failure to obtain the requisite vote by Metsera stockholders) in the anticipated timeframe or at all, including the possibility that the proposed acquisition does not close; the possibility that competing offers may be made; risks related to the ability to realize the anticipated benefits of the proposed acquisition, including the possibility that the expected benefits from the acquisition will not be realized or will not be realized within the expected time period; the risk that the businesses will not be integrated successfully; disruption from the transaction making it more difficult to maintain business and operational relationships, including Metsera’s ability to attract and retain highly qualified management and other clinical and scientific personals; negative effects of this announcement or the consummation of the proposed acquisition on the market price of Pfizer’s or Metsera’s common stock and/or operating results; significant transaction costs; unknown liabilities; the risk of litigation and/or regulatory actions related to the proposed.

风险和不确定性包括但不限于与满足或豁免完成拟议收购的条件相关的风险（包括未能获得必要的监管批准，以及未能获得Metsera股东的必要投票），可能无法在预期时间内完成或根本无法完成，包括拟议收购可能不关闭的可能性；可能出现竞争性报价的风险；与实现拟议收购预期收益能力相关的风险，包括可能无法实现收购的预期收益或无法在预期时间内实现；业务可能无法成功整合的风险；交易导致的中断可能使维持业务和运营关系变得更加困难，包括Metsera吸引和留住高素质管理团队及其他临床和科学人员的能力；本公告或拟议收购的完成对辉瑞或Metsera普通股市场价格和/或运营结果的负面影响；高额交易成本；未知负债；与拟议收购相关的诉讼和/或监管行动的风险。

You should carefully consider the foregoing factors and the other risks and uncertainties that affect the businesses of Pfizer and Metsera described in the “Risk Factors” and “Forward-Looking Information and Factors That May Affect Future Results” (in the case of Pfizer) and “Special Note regarding Forward Looking Statements” (in the case of Metsera) sections of their respective Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed by either of them from time to time with the U.S.

您应当仔细考虑前述因素以及影响辉瑞和梅特塞拉业务的其他风险和不确定性，这些内容在他们各自年度报告 Form 10-K 的“风险因素”和“前瞻性信息及可能影响未来结果的因素”（针对辉瑞）以及“关于前瞻性声明的特别说明”（针对梅特塞拉）部分中有所描述，并包含在他们不时向美国证券交易委员会提交的 Form 10-Q 季度报告及其他文件中。

Securities and Exchange Commission (the “SEC”), all of which are available at .

证券交易委员会（“SEC”），所有这些都可以在以下网址找到：。

www.sec.gov

www.sec.gov

.

。

These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Pfizer and Metsera assume no obligation to, and do not intend to, update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law.

这些文件识别并处理了其他重要的风险和不确定性，这些风险和不确定性可能导致实际事件和结果与前瞻性声明中包含的内容有重大差异。前瞻性声明仅在其作出时有效。读者应注意不要过度依赖前瞻性声明，辉瑞和Metsera不承担更新或修改这些前瞻性声明的义务，也不打算这样做，无论是否由于新信息、未来事件或其他原因，除非法律要求。

Neither Pfizer nor Metsera gives any assurance that it will achieve its expectations..

辉瑞和Metsera都没有保证会实现他们的预期。

Additional Information and Where to Find It

更多信息及其查找位置

In connection with the proposed transaction, Metsera will be filing documents with the SEC, including preliminary and definitive proxy statements relating to the proposed transaction. The definitive proxy statement will be mailed to Metsera’s stockholders in connection with the proposed transaction.

与此拟议交易相关，Metsera将向美国证券交易委员会（SEC）提交文件，包括与拟议交易相关的初步和最终委托书。最终委托书将邮寄给Metsera的股东，以便与拟议交易相关的事宜进行沟通。

This communication is not a substitute for the proxy statement or any other document that may be filed by Metsera with the SEC. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PRELIMINARY AND DEFINITIVE PROXY STATEMENTS AND ANY OTHER DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION OR INCORPORATED BY REFERENCE IN THE PROXY STATEMENT WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION.

本通讯并非Metsera向美国证券交易委员会（SEC）提交的委托书声明或任何其他文件的替代品。在做出任何投票决定之前，投资者和证券持有人应仔细阅读与拟议交易相关的初步和最终委托书声明以及可能提交给SEC或通过引用并入委托书声明中的任何其他文件，因为这些文件将包含有关拟议交易的重要信息。一旦这些文件可用，请务必查阅。

Any vote in respect of resolutions to be proposed at Metsera’s stockholder meeting to approve the proposed transaction or other responses in relation to the proposed transaction should be made only on the basis of the information contained in Metsera’s proxy statement. Investors and security holders may obtain free copies of these documents (when they are available) and other related documents filed with the SEC at the SEC’s web site at .

在梅特塞拉股东大会上，就拟议交易相关的决议进行投票或对拟议交易作出其他回应时，应仅基于梅特塞拉的委托书中所含的信息。投资者和证券持有人可以在SEC的网站上免费获取这些文件（当它们可用时）以及向SEC提交的其他相关文件。

www.sec.gov

www.sec.gov

, or at

，或者在

www.metsera.com

www.metsera.com

.

。

No Offer or Solicitation

无提供或招揽

This communication is for information purposes only and is not intended to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer or invitation to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law..

本通讯仅供信息参考之用，并非旨在且不构成或作为部分要约、邀请或征求购买、收购、认购、出售或处置任何证券的要约或邀请，也不构成在任何司法管辖区就拟议交易或其他事项征求任何投票或批准的行为；亦不得违反适用法律在任何司法管辖区进行证券的销售、发行或转让。

Participants in the Solicitation

征求活动的参与者

Metsera and its directors, executive officers and other members of management and employees, under SEC rules, may be deemed to be “participants” in the solicitation of proxies from stockholders of Metsera in favor of the proposed transaction. Information about Metsera’s directors and executive officers is set forth in Part III of Metsera’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was filed with the SEC on March 26, 2025.

根据美国证券交易委员会（SEC）的规定，Metsera及其董事、高级管理人员及其他管理层成员和员工可能被视为“参与者”，参与从Metsera股东处征求委托书以支持拟议的交易。有关Metsera董事和高级管理人员的信息载于Metsera截至2024年12月31日财政年度的Form 10-K年报第III部分，该年报已于2025年3月26日提交给SEC。

Additional information concerning the interests of Metsera’s participants in the solicitation, which may, in some cases, be different than those of Metsera’s stockholders generally, will be set forth in Metsera’s proxy statement relating to the proposed transaction when it becomes available. These documents are available free of charge at the SEC’s web site at .

有关 Metsera 参与者在征集活动中利益的更多信息，这些利益在某些情况下可能与 Metsera 股东的一般利益不同，将在 Metsera 与拟议交易相关的委托书声明中提供，一旦可用即可获取。这些文件可在美国证券交易委员会 (SEC) 网站上免费查阅。

www.sec.gov

www.sec.gov

and at

并且在

www.metsera.com

www.metsera.com

.

。

Category: Corporate, Research and Pipeline

类别：企业、研究与管道

Media Contact:

媒体联系人:

PfizerMediaRelations@Pfizer.com

辉瑞媒体关系@辉瑞.com

Investor Contact:

投资者联系方式：

IR@Pfizer.com

IR@Pfizer.com

Source: Pfizer Inc.

来源：辉瑞公司