Pfizer Raises $5 Billion in Bond Market to Fund Metsera Acquisition

Pfizer Inc. (PFE) has returned to the U.S. debt markets with a $5 billion corporate bond offering, as reported by Bloomberg. The proceeds will finance its recent acquisition of Metsera Inc., a biotech startup specializing in obesity treatments. The deal underscores Pfizer's strategic pivot toward high-growth therapeutic areas amid declining demand for its COVID-19 products.

The acquisition, valued at up to $10 billion, positions Pfizer as a contender in the obesity drug market, projected to surpass $100 billion globally by 2030. The bond issuance includes seven tranches, with 40-year notes pricing at a 1.25% premium over Treasuries. Marketed as a benchmark offering, the deal reflects robust investor appetite.

Pfizer's MOVE coincides with a flurry of activity in the investment-grade bond market, following Amazon's $15 billion issuance earlier this week. The pharmaceutical giant's debt strategy highlights its focus on portfolio diversification and long-term growth in biotech.