Pfizer CEO Albert Bourla has said the company has already made its "big M&A moves" in areas such as cancer and obesity, signaling a pause on large acquisitions.
Since 2022 Pfizer has spent around $80 billion on deals, including the $44.56 billion acquisition of Seagen, Biohaven's migraine business for $12.56 billion, and Metsera for up to $10 billion.
Bourla now emphasizes smaller "bolt-on" acquisitions, with roughly $6 billion of dealmaking capacity remaining, and a focus on execution and integration of recent buys.
Recent news (August 2026) highlights that Pfizer will rely on newer medicines, including those from Metsera in obesity, to reduce dependence on aging blockbusters and drive growth.
Sources:
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