The latest Market Talks covering the Health Care sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

1135 ET - Pfizer CEO Albert Bourla says in an interview with CNBC that he expects to pay the full contingent value right in the company's acquisition of weight-loss drug startup Metsera. "I have seen data, and I think that the probability that those molecules will succeed and get approval is very, very high," he says. Pfizer has said that it will leverage the scale of its global clinical, manufacturing and commercial infrastructure to accelerate Metsera's portfolio. (connor.hart@wsj.com)

1126 ET - Pfizer agreed to buy weight-loss drug startup Metsera for more than $10 billion, after increasing its offer when Novo Nordisk sparked a bidding war. The higher price is worth it, though, CEO Albert Bourla says in an interview with CNBC. Metsera "is one of the most exciting, advanced portfolios in this very fast-growing market," he says. Pfizer searched globally for acquisition targets that could help it compete in the $72 billion global obesity drug market, which is led by Novo Nordisk's Wegovy and Eli Lilly's Zepbound injections. "We came to the conclusion that this one, in our hands, can develop significant value," Bourla says. (connor.hart@wsj.com)

0905 ET - Pfizer winning the bidding war for Metsera should be welcome news for investors despite the higher price, say JPMorgan analysts. Pfizer needed to broaden its drug pipeline and the deal shows its dedication to gaining a share of the obesity treatment market. Metsera's lead GLP-1 asset, MET-097i, has the potential for once-monthly dosing which could give it a "niche role in the rapidly expanding obesity market," the analysts say. Eli Lilly and Novo Nordisk are still likely to remain the dominant players and retain their time-to-market and insurance coverage advantages, but even modest share for MET-097i would create a multi-billion dollar opportunity for Pfizer, the analysts say. (nicholas.miller@wsj.com)

0716 ET - Roche's late-stage trial results for its multiple-sclerosis treatment fenebrutinib are encouraging, but commercial potential largely hinges on further results expected next year, J.P. Morgan analysts write. Fenebrutinib's outperformance of an existing drug in treating relapsing MS is noteworthy, but the Swiss drugmaker can't file for approval--and unlock potentially 3 billion Swiss francs in sales--until a further RMS trial in the first half of 2026, the analysts say. Solid results for the drug in treating primary progressive MS could generate 1 billion francs in sales, though that outcome will depend on how it measures up against Sanofi's tolebrutinib later this or early next year, J.P. Morgan says. Shares are up 2.4% at 274.80 francs.(william.gray@wsj.com)

0552 ET - Roche's fenebrutinib results came as a positive surprise, Vontobel analyst Stefan Schneider writes in a note. The Swiss pharmaceutical group said its fenebrutinib drug candidate met primary goals in two late-stage trials for multiple sclerosis, showing reduced relapse rates and delayed disability progression in different disease forms. Given adverse events seen with other trials, expectations for fenebrutinib in relapsing multiple sclerosis were modest, he says. The analyst notes that fenebrutinib could support Roche's neuroscience revenue once Ocrevus patents begin to expire in 2029. Shares are up 1.8% at 273.20 Swiss Francs.(najat.kantouar@wsj.com)

0248 ET - Praram 9 Hospital retains its bull at DBS Group Research due to factors including its advanced medical care expertise and industry-leading projected earnings growth over 2025-2027. The healthcare company's 3Q earnings hit a record 223 million baht, driven by tax benefits and higher revenue, analyst Sasikarn Udomvej says in a note. The Thai company should see margin expansion from expenditure efficiency, a healthy balance sheet, and rising revenue from Middle Eastern patient demand, she says. She expects the group's robust earnings momentum to continue into 4Q, given new beds, more local patients from an influenza outbreak, and new international patient markets. DBS maintains its buy rating and THB31.00 target. Shares last at THB21.00. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

November 10, 2025 12:20 ET (17:20 GMT)

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