Obesity Startup Metsera at Center of Multibillion-Dollar Battle Between Pfizer and Novo Nordisk

Pfizer and Novo Nordisk are engaged in a heated battle for Metsera, a three-year-old obesity startup, with both companies offering sweetened bids exceeding $10 billion. Novo's $4.9 billion takeover was initially agreed upon in September, but Pfizer's bid was blocked by a Delaware judge. Novo's quarterly figures missed analyst estimates and forecasts were cut for the fourth time this year, while Norway suspended the Ethics Council of its $2.1 trillion sovereign wealth fund.