US drugmaker Pfizer said Thursday that it has completed its acquisition of biotech firm Metsera, closing a deal worth up to $10 billion after a fierce bidding war.

The approval from Metsera’s shareholders opens the door for Pfizer to make inroads into the fast-growing market for weight loss drugs.

Metsera, a US company specializing in obesity treatments, had been the subject of escalating offers from Pfizer and Danish challenger Novo Nordisk, which makes the weight loss drug Wegovy and Ozempic, a diabetes medication with weight loss benefits.

Pfizer said in a statement that its acquisition was successfully completed.

It had offered to acquire Metsera for up to $86.25 per share, making the deal worth around $10 billion.

This involved $65.60 per share in cash, and an additional $20.65 p

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