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Pfizer Inc. (NYSE:PFE) announced Friday the completion of a public offering totaling $6 billion in aggregate principal amount of notes with maturities ranging from 2027 to 2065. The company issued $500 million of Floating Rate Notes due 2027, $1 billion of 3.875% Notes due 2027, $1 billion of 4.200% Notes due 2030, $1.25 billion of 4.500% Notes due 2032, $1.25 billion of 4.875% Notes due 2035, $500 million of 5.600% Notes due 2055, and $500 million of 5.700% Notes due 2065. The pharmaceutical giant, with a market capitalization of $142.3 billion, has maintained dividend payments for 55 consecutive years and currently offers a substantial 6.87% dividend yield.
The offering was conducted under Pfizer’s shelf registration statement on Form S-3, which was originally filed with the Securities and Exchange Commission on February 23, 2024, and amended on May 13, 2025. The notes were issued pursuant to an indenture dated September 7, 2018, as supplemented by a sixth supplemental indenture dated Friday between Pfizer and The Bank of New York Mellon, acting as trustee.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, and Mizuho Securities USA LLC served as representatives of the underwriters. The underwriting and pricing agreements were both executed on November 18, 2025.
The company also filed a legal opinion regarding the validity of the notes as part of the transaction. This information is based on a press release statement included in Pfizer’s Form 8-K filing with the SEC.
In other recent news, Pfizer Inc. has completed its $7 billion acquisition of Metsera, Inc., a company based in Delaware. This transaction, finalized under a merger agreement amended in November 2025, includes a cash payment of $65.60 per share to Metsera shareholders, along with contingent value rights for potential additional payments. Pfizer’s Chief Financial Officer, Dave Denton, noted plans to expand the company’s obesity portfolio globally, focusing on oral medications following the Metsera acquisition. The company has earmarked approximately $5 billion for further dealmaking in the coming years. In related developments, reports suggesting Pfizer might sell its stake in BioNTech were refuted, with BioNTech confirming the continued strength of their partnership. Meanwhile, the competitive bidding war for Metsera ended as Novo Nordisk withdrew its offer, citing regulatory concerns communicated by the US Federal Trade Commission. Additionally, Canaccord Genuity raised its price target for Viking Therapeutic, maintaining a Buy rating, following Pfizer’s initial offer for Metsera. These developments highlight Pfizer’s strategic moves in the pharmaceutical sector.
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