\nPfizer Inc. (NYSE: PFE) is aware of the reckless and unprecedented proposal by Novo Nordisk A\/S (NYSE: NVO) to acquire Metsera, Inc. (NASDAQ: MTSR). It is an attempt by a company with a dominant market position to suppress competition in violation of law by taking over an emerging American challenger. It is also structured in a way to circumvent antitrust laws and carries substantial regulatory and executional risk. The proposal is illusory and cannot qualify as a superior proposal under Pfizer\u2019s agreement with Metsera, and Pfizer is prepared to pursue all legal avenues to enforce its rights under its agreement.<\/p>\n
\nAs disclosed in Metsera\u2019s proxy, the Board of Metsera previously rejected Novo Nordisk\u2019s proposal due to \u201ca variety of risks\u201d in its deal structure. The Board chose Pfizer over other bidders because none \u201ccould complete an acquisition of 100% of Metsera\u2019s equity with the same level of certainty or on the same expected timeline as Pfizer.\u201d The Pfizer transaction creates real, certain and immediate value for Metsera\u2019s stockholders and ensures Metsera\u2019s important drug candidate can emerge as a key competitor available to all Americans in this important therapeutic area.<\/p>\n
Disclosure Notice:<\/i><\/b> The information contained in this release is as of October 30, 2025. <\/i>This release contains forward-looking information about, among other topics, Pfizer\u2019s proposed acquisition of Metsera and Metsera\u2019s pipeline products, including their potential benefits, that involves substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. 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 or accepted; 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\u2019s 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\u2019s or Metsera\u2019s common stock and\/or operating results; significant transaction costs; unknown liabilities; the risk of litigation and\/or regulatory actions related to the proposed acquisition or Metsera\u2019s business; other business effects and uncertainties, including the effects of industry, market, business, economic, political or regulatory conditions; future exchange and interest rates; risks and uncertainties related to issued or future executive orders or other new, or changes in, laws, regulations or policy; changes in tax and other laws, regulations, rates and policies; the uncertainties inherent in business and financial planning, including, without limitation, risks related to Pfizer\u2019s business and prospects, adverse developments in Pfizer\u2019s markets, or adverse developments in the U.S. or global capital markets, credit markets, regulatory environment, tariffs and other trade policies or economies generally; future business combinations or disposals; uncertainties regarding the commercial success of Metsera\u2019s pipeline products or Pfizer\u2019s commercialized and\/or pipeline products; risks associated with Metsera conducting clinical trials and preclinical studies outside of the United States; Metsera\u2019s reliance on third parties to conduct clinical trials and preclinical studies and for the manufacture and shipping of its product candidates; the risk that Metsera\u2019s product candidates are associated with side effects, adverse events or other properties or safety risks; risks associated with Metsera\u2019s license and collaboration agreements and future strategic alliances; Metsera\u2019s ability to obtain, maintain, defend and enforce patent or other intellectual property protection for current or future product candidates or technology; the uncertainties inherent in research and development, including the ability to meet anticipated clinical endpoints, commencement and\/or completion dates for clinical trials, regulatory submission dates, regulatory approval dates and\/or launch dates, as well as the possibility of unfavorable new clinical data and further analyses of existing clinical data; risks associated with initial, preliminary or interim data; the risk that clinical trial data are subject to differing interpretations and assessments by regulatory authorities; whether regulatory authorities will be satisfied with the design of and results from the clinical studies; whether and when drug applications may be filed in any jurisdictions for Pfizer\u2019s or Metsera\u2019s pipeline products for any potential indications; whether and when any such applications may be approved by regulatory authorities, which will depend on myriad factors, including making a determination as to whether the product’s benefits outweigh its known risks and determination of the product’s efficacy and, if approved, whether any such products will be commercially successful; decisions by regulatory authorities impacting labeling, manufacturing processes, safety and\/or other matters that could affect the availability or commercial potential of such products; uncertainties regarding the impact of COVID-19; and competitive developments.<\/i><\/p>\n
You should carefully consider the foregoing factors and the other risks and uncertainties that affect Pfizer\u2019s business described in the \u201cRisk Factors\u201d and \u201cForward-Looking Information and Factors That May Affect Future Results\u201d sections of Pfizer\u2019s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed from time to time with the U.S. Securities and Exchange Commission, all of which are available at www.sec.gov<\/a>. 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 assumes no obligation to, and does 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. Pfizer does not give any assurance that it will achieve its expectations.<\/i><\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20251030787900\/en\/<\/a><\/span><\/p>\n \nMedia Contact: PfizerMediaRelations@Pfizer.com KEYWORDS:<\/b> New York United States North America<\/p>\n INDUSTRY KEYWORDS:<\/b> Biotechnology Pharmaceutical Health<\/p>\n<\/p>\n
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Investor Contact: IR@Pfizer.com<\/a><\/p>\n
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