Novo Nordisk lost a bidding war for Metsera to Pfizer but responded by cutting Wegovy prices in India to compete in the growing obesity treatment market.

Law firm Johnson Fistel launched an investigation into potential fiduciary duty breaches by Metsera's board regarding its proposed sale to Pfizer at $47.50 per share, which is significantly below Wall Street analyst projections.

Pfizer faces challenges with upcoming patent expirations for three blockbuster drugs in 2027-2028 and a complicated acquisition attempt of Metsera, creating uncertainty about its near-term financial outlook.

Pfizer reported Q3 earnings beating analyst expectations, with declining Covid revenues and a strategic pivot towards obesity therapies. The company is focusing on growth through pipeline expansion and potential acquisitions in the weight-loss drug market.