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		</div><p>Pfizer is doubling down on obesity treatments by spending 4.9 billion US dollars (£3.6 billion) on the development-stage drugmaker Metsera.</p>
<p>The Covid-19 vaccine and treatment maker said on Monday that it will pay 47.50 dollars (£35.20) per share in cash for each Metsera share.</p>
<p>That represents a premium of more than 42% on Metsera’s closing price on Friday.</p>
<p>Pfizer also could pay an additional 22.50 dollars (£16.67) per share depending on how Metsera’s product pipeline develops.</p>
<p>Metsera has no products on the market, but its pipeline includes four programmes in clinical development and one in mid-stage testing.</p>
<p>Demand for obesity treatments has soared in recent years, fuelled by market leaders Zepbound from Eli Lilly and Wegovy from Novo Nordisk.</p>
<p>Pfizer currently has no obesity treatments on the market but has some in clinical development.</p>
<p>Earlier this year, the company said it was ending development of a potential once-daily pill treatment before it started late-stage testing, the biggest and most expensive phase of clinical development.</p>
<p>Shares in Pfizer, based in New York, climbed 31 cents to 24.33 dollars (£18.02) before markets opened on Monday, while Metsera’s stock advanced about 60%.</p>
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