HQ Team
September 18, 2025: Swiss healthcare multinational F. Hoffmann-La Roche AG will acquire US-based 89bio Inc. for a deal worth up to $3.5 billion to expand its metabolic disease portfolio.
San Francisco-headquartered 89bio Inc. develops therapies for the treatment of liver and cardiometabolic diseases.
The company’s pegozafermin drug, to treat Metabolic Dysfunction-Associated Steatohepatitis (MASH), a progressive liver disease characterised by excess fat buildup in the liver, inflammation, and liver cell damage, is in late-stage development.
Roche will pay $14.50 per share in cash, and shareholders will also receive a non-tradeable contingent value right for up to an aggregate of $6.00 per share in cash, representing a total deal value of up to about $3.5 billion, according to a Roche statement.
Overweight, obesity
The transaction is expected to close in the fourth quarter of 2025.
“This acquisition underscores Roche’s dedication to advancing innovative therapies in cardiovascular, renal, and metabolic diseases, especially for patients affected by overweight, obesity, and related health challenges such as MASH.
“Pegozafermin offers a distinct mechanism of action that not only holds the potential for enhanced efficacy and tolerability but also unlocks opportunities for future combination development with incretins, creating synergies with Roche’s portfolio,” according to the statement.
Acquiring 89bio fosters Roche’s activities to build a robust and differentiated pipeline that targets additional causes of metabolic disease, it stated.
“We are highly encouraged by pegozafermin’s potential to become a transformative treatment option in MASH, one of the most prevalent comorbidities of obesity, and to meet diverse patient needs associated with this complex disease,” said Thomas Schinecker, Roche Group CEO.
“With its combined anti-fibrotic and anti-inflammatory mechanism, pegozafermin could potentially offer best-in-disease efficacy for all moderate to severe MASH patients.”
Progressive disease
The 89bio employees will join the Roche Group as part of Roche’s Pharmaceuticals Division.
Metabolic Dysfunction-Associated Steatohepatitis is a serious and increasingly prevalent form of fatty liver disease, and is strongly associated with the global rise in obesity and type 2 diabetes.
It is estimated that between five and seven per cent of the world’s adult population is affected by MASH, and more than 75% of those living with the condition experience comorbidities such as overweight, obesity, and type 2 diabetes.
MASH is progressive and, when left untreated, can progress to cirrhosis, liver decompensation, and even to hepatocellular carcinoma.
