Pfizer is nearing a $73 billion acquisition of Merck.

According to the Financial Times, Pfizer is close to acquiring the obesity treatment startup Metisella for about $7.3 billion. Pfizer's previously high-profile development of weight-loss drugs has failed, and the pharmaceutical giant is seeking to expand its research pipeline through this acquisition. The Financial Times cited anonymous sources as saying that the deal could be announced as early as Monday. Sources revealed to the Financial Times that Pfizer will acquire Metisella shares for $47.50 per share in cash, with an additional $22.50 per share if certain performance milestones are met. Under this agreement, the acquisition price is at a premium to Metisella's closing price on the New York Stock Exchange last Friday. In pre-market trading on Monday, Metisella's stock price soared by about 50%, while Pfizer's stock price rose by about 1.1%. Metisella is one of the new generation of companies poised to share in the multi-billion-dollar obesity drug market. This acquisition will give Pfizer access to Metisella's drug MET-233i, an injectable weight-loss drug that in a small-scale early trial, patients could lose up to 8.4% of their body weight in 36 days. Notably, compared to injectables from market leaders Novo Nordisk and Eli Lilly in the obesity drug market, MET-233i is expected to reduce the frequency of dosing - patients may be able to switch from a weekly injection to a monthly one. Pfizer plans to complete 2 to 3 transactions worth up to $15 billion this year to enrich its research and product portfolio. Previously, Pfizer's weight-loss drug was seen as its best opportunity to enter the weight-loss market. After the drug development setback, CEO Albert Bourla faced increasing pressure; analysts speculate that Pfizer may re-enter the field by acquiring a smaller weight-loss drug company. Currently, Pfizer is facing a dilemma with declining demand for COVID-19 vaccines and treatments. In addition, it is estimated that by the end of this decade, patent expirations will lead to a reduction of over $15 billion in sales. MET-233i belongs to the long-acting insulin analogue class. Insulin medications have been shown to be potentially gentler than glucagon-like peptide-1 (GLP-1) class medications, which often have higher rates of side effects such as nausea and vomiting. Currently, Novo Nordisk, Eli Lilly, and a pharmaceutical company in New Zealand are all developing insulin-based treatment medications.