Viking Therapeutics Shares Dip as Pfizer Chooses Rival Acquisition

Viking Therapeutics experienced significant selling pressure yesterday as investors reacted to Pfizer’s unexpected acquisition of competitor Metsera. The biotech firm’s shares declined 4.88% to close at $24.97, a notable setback for shareholders who had anticipated Viking itself might become a takeover target.

The pharmaceutical giant’s move to acquire Metsera represents a significant reshuffling of the competitive dynamics within the obesity drug market. This development is particularly impactful for Viking, as Pfizer had long been considered a prime candidate to acquire the company. This speculation intensified after Pfizer discontinued its internal GLP-1 drug development program, leaving Viking without a previously speculated potential buyer.

The news arrives at a challenging period for Viking Therapeutics. In August, the company’s VENTURE-Oral study... Read more...