Pfizer Completes Acquisition of Metsera

Pfizer Acquires Arena Pharmaceuticals

December 13, 2021

Pharmaceuticals

Pfizer Inc. agreed to acquire clinical-stage Arena Pharmaceuticals for $100 per share in an all-cash transaction valued at approximately $6.7 billion, creating a wholly owned subsidiary. The acquisition brings Arena's development-stage portfolio — including etrasimod and cardiovascular assets — into Pfizer's Inflammation & Immunology pipeline to accelerate clinical development and expand therapeutic capabilities.

Merck to Acquire Verona Pharma for Approximately $10 Billion

July 9, 2025

Pharmaceuticals

Merck, through a subsidiary, entered into a definitive agreement to acquire Verona Pharma in a transaction valued at approximately $10 billion (at $107 per ADS). The acquisition is intended to add Ohtuvayre (ensifentrine) to Merck’s cardio-pulmonary pipeline, following FDA approval for COPD in June 2024.

Genmab A/S Acquires Merus N.V. via Tender Offer

December 12, 2025

Biotechnology

Genmab A/S, through its wholly owned purchaser Genmab Holding II B.V., completed a tender offer to acquire outstanding common shares of Merus N.V. for $97.00 per share and commenced a subsequent offering period. The acquisition adds Merus' lead late‑stage oncology asset petosemtamab to Genmab's portfolio, expanding its antibody therapeutics pipeline and expected to be accretive to EBITDA by 2029.

Bristol Myers Squibb to Acquire Mirati Therapeutics in $4.8B Cash-and-CVR Deal

October 13, 2023

Pharmaceuticals

Bristol Myers Squibb has entered into a definitive merger agreement to acquire Mirati Therapeutics for $58 per share in cash, valuing the transaction at $4.8 billion in equity value. The deal also includes a non-tradeable contingent value right (CVR) that could provide up to an additional $1 billion of value tied to regulatory acceptance of an NDA for Mirati’s MRTX1719.

Novo Nordisk to Acquire Akero Therapeutics for Up to $5.2 Billion

October 10, 2025

Pharmaceuticals

Akero Therapeutics announced it has entered into a definitive agreement to be acquired by Novo Nordisk A/S in a transaction valued at up to $5.2 billion in cash. Under the terms of the deal, Akero shareholders will receive $54.00 per share at closing plus a non-transferable Contingent Value Right (CVR) that could pay an additional $6.00 per share contingent on full U.S. regulatory approval of efruxifermin (EFX) for compensated cirrhosis associated with MASH.

Eli Lilly Acquires Versanis Bio

July 14, 2023

Biotechnology

Eli Lilly has entered into a definitive agreement to acquire Versanis Bio, a private clinical-stage biopharmaceutical company developing bimagrumab for cardiometabolic diseases and obesity. The deal could deliver up to $1.925 billion to Versanis shareholders and is intended to combine Versanis’ activin/myostatin biology expertise with Lilly’s incretin portfolio to advance combination treatments for obesity and related cardiometabolic conditions.