Pfizer is moving quickly to advance its obesity drug programs, aiming to address the upcoming loss of patent protection on several of its key products. The company acquired Metsera last year for $9.8 billion, outbidding Novo Nordisk in a competitive process. At the 2026 J.P. Morgan Healthcare Conference, Pfizer CEO Albert Bourla provided updates on how Metsera’s assets fit into Pfizer’s strategy.
The first of ten planned Phase III trials for Metsera’s ultra-long-acting GLP-1 candidate MET097 began late last year. Bourla noted that while Metsera had initially planned to start this study in early 2026, Pfizer was able to accelerate the timeline soon after finalizing the acquisition. The company expects to launch the remaining nine Phase III trials this year and aims for a product launch in 2028.
This push comes as Pfizer faces a significant patent cliff. Between 2025 and 2028, patents on seven major products will expire, with Xeljanz, Prevnar 13, and Eliquis losing protection this year and Ibrance and Xtandi following in 2027. Products affected by these expirations generated $21.4 billion in sales in 2024—about one-third of Pfizer’s total revenue. Bourla said that the loss of exclusivity could reduce revenues by $1.5 billion this year and up to $4.5 billion by 2027.
Bourla addressed these challenges directly: “a modest decline” is expected in 2028 due to increased competition from generic versions of key drugs.
Obesity treatments are central to Pfizer’s plan for future growth beyond the patent expirations. Bourla expressed optimism about MET097’s prospects: “commercial muscle” could enable a “hockey stick ramp-up” to maximum market share after launch, potentially reaching peak sales faster than typical new drugs.
Analysts at BMO Capital Markets highlighted that MET097 is part of a broader portfolio targeting obesity through various mechanisms such as GLP-1, amylin, and GIPR pathways. The pipeline includes both injectable drugs—like MET097 with once-monthly dosing—and oral peptides or small molecules.
Pfizer’s efforts to offset declining revenues also include progress on other drug candidates such as Padcev and antibody-drug conjugates (ADCs), as well as launching Phase III trials for a PD-1/VEGF bispecific antibody. Additionally, Bourla identified Nurtec and Elrexfio as existing medicines with untapped potential.
The company has signed a most-favored-nation (MFN) agreement with the Trump administration, allowing it to pursue international sales without tariff concerns that were present in 2025. Bourla said MFN would benefit global sales efforts and cited increased spending commitments from countries like the U.K., while ongoing discussions continue with France and Germany regarding higher payments for innovative medicines.
Pfizer is also seeking expedited regulatory review under the FDA's Commissioner’s National Priority Voucher (CNPV) program introduced last June by the Trump administration. This initiative can shorten drug review times from nearly a year down to just one or two months for qualifying companies.
