Pharmaceutical Industry Roundup: Pfizer Closes Metsera Deal, Bidding War Erupts for Avadel, and FDA Approves New Leukemia Drug

In a week of significant developments across the pharmaceutical landscape, major players have made strategic moves in acquisitions and drug approvals, while clinical trial results have set the stage for future advancements in various therapeutic areas.

Pfizer Finalizes $10 Billion Metsera Acquisition

Pfizer has swiftly concluded its $10 billion acquisition of GLP-1 drug developer Metsera, just days after the target company accepted the final offer. The deal, which received Federal Trade Commission approval, marks the end of a bidding war that involved Novo Nordisk, the manufacturer of Wegovy. Pfizer CEO Albert Bourla expressed enthusiasm about advancing the shared goal of developing Metsera's five experimental metabolic drugs for obesity.

Lundbeck Sparks Bidding War for Avadel Pharmaceuticals

A new bidding war has emerged as Lundbeck submitted an unsolicited offer for Avadel Pharmaceuticals, challenging the previously agreed-upon deal with Alkermes. Lundbeck's proposal offers up to $23 per share, surpassing Alkermes' offer of up to $20 per share. Avadel's board is currently evaluating the new proposal, while Alkermes is considering its options. The target of this acquisition, Avadel, markets a daytime sleepiness medicine with projected annual sales exceeding $550 million, according to Jefferies analysts.

FDA Approves Kura Oncology and Kyowa Kirin's Leukemia Drug

The U.S. Food and Drug Administration has granted approval to Komzifti (ziftomenib), an oral medicine developed by Kura Oncology and Kyowa Kirin for the treatment of certain types of acute myeloid leukemia. This approval makes Komzifti the second menin inhibitor recently cleared for these malignancies, following Syndax Pharmaceuticals' Revuforj. Notably, Komzifti does not carry a safety warning for abnormal heart rhythm risk, which analysts at Jefferies consider a significant advantage over its competitor.

Clinical Trial Updates and Pipeline Developments

Several pharmaceutical companies have reported progress in their clinical pipelines:

• Alkermes announced positive results from a mid-stage trial of alixorexton for Type 2 narcolepsy, with significant improvements observed in daytime sleepiness measures.
• Gilead Sciences reported success in the first of two Phase 3 trials for a single-tablet combination of bictegravir and lenacapavir for HIV treatment.
• Zealand Pharma has decided to discontinue the development of its experimental weight-loss drug dapiglutide, choosing instead to focus on programs with greater potential for clinical differentiation and long-term value creation.

These developments underscore the dynamic nature of the pharmaceutical industry, with companies continually refining their strategies and pipelines in response to clinical outcomes and market opportunities.