Funding
Pfizer Secures Up to $1.5 Billion From Blackstone to Fund Monthly Obesity Drug Through 2028
By News Desk ·
Key takeaways
- Blackstone will provide up to $1.5 billion through 2028 to fund development of Pfizer's experimental monthly obesity treatment.
- The agreement is a strategic co-funding arrangement under which Blackstone pays up to $1.5 billion of berobenatide development costs through 2028.
- Pfizer acquired Metsera for approximately $10 billion in November 2025, gaining the obesity pipeline that includes berobenatide.
Pfizer said Blackstone will provide up to $1.5 billion through 2028 to help fund development of its experimental monthly obesity treatment, according to MarketScreener. The announcement was made on November 11, 2026.
How the Blackstone Co-Funding Works
Pfizer and Blackstone announced a strategic co-funding agreement under which Blackstone will pay up to $1.5 billion of development costs for berobenatide through 2028, Stock Titan reported. The funding is intended to support development of the drug, which Pfizer has described as a monthly obesity treatment.
Pfizer plans to launch its GLP-1 drug berobenatide in 2028, aiming to enter a market projected to reach $190 billion by 2035, The Motley Fool reported. The company cites its commercial execution strength, including scaling its COVID vaccine, as a key advantage.
Blackstone separately raised its takeover bid for IDP Education to A$833.7 million, offering A$3 per share at a 36% premium, MarketScreener reported. IDP's board is considering the revised offer, which follows two rejected bids.
Pfizer's Obesity Pipeline and Deal History
Pfizer acquired Metsera for approximately $10 billion in November 2025 following a bidding war with Novo Nordisk, gaining access to an obesity drug pipeline including PF'3944 (berobenatide) and MET-097i for monthly dosing GLP-1 treatments, according to akta.pro company records. The same records list a $6 billion post-IPO debt round in November 2025 and a $1 billion post-IPO equity round in October 2024 led by Starboard Value.
| Date | Round type | Amount | Lead investor |
|---|---|---|---|
| May 2023 | Post-IPO debt | $31 billion | Not stated |
| October 2024 | Post-IPO equity | $1 billion | Starboard Value |
| November 2025 | Post-IPO debt | $6 billion | Not stated |
Earlier Pfizer Obesity Moves
Pfizer is advancing its GLP-1 weight-loss drugs through Phase 3 trials, aiming for a monthly shot option, with 10 late-stage trials, The Motley Fool reported in November 2026. Pfizer CEO outlined a plan to reuse its Viagra-era commercialization playbook for future obesity drugs, citing its $9.7 billion cost-saving program and raised 2026 revenue guidance, Simply Wall St reported.
Pfizer and Innovent Biologics partnered on GLP-1 drugs including ecnoglutide, which cleared preliminary review for potential inclusion in China's basic medical insurance drug catalogue for weight management and type II diabetes treatment, according to company records.
Jefferies Conference Webcast
Pfizer will webcast a discussion with CEO Albert Bourla at the Jefferies London Healthcare Conference on November 17, 2026, at 9:00 a.m. GMT, Stock Titan reported. The webcast and replay will be available on Pfizer's investor website within 24 hours and for at least 90 days.