清晨再次来到机场，联邦航空局推迟航班起飞时间的通告被打印贴在登机口，旅客的行李轮廓在地面上被拉长，航空公司的调度员面色沉着地解释替代方 案，现场的秩序靠着一张张临时的表格和人手安排维持，来源：联邦航空局公告与航空公司通知。 夜里，债市的电子屏幕冷峻，财政部公布新一期债券利率为4.03%的数字像一道栏杆，券商的电话一直没停，交易员在荧光光线下翻看明细，资金成本的变 动正在影响企业短期现金流，来源：美国财政部公告。 第二天清晨，普遍消息写着油价持稳，委内瑞拉局势与全球供应过剩成了市场两端的拉扯，交易大厅里的屏幕左侧显示的是油价，右侧是美元指数，美元三 连涨的注释被分析师在纸上划了两道线，来源：市场收盘数据。 当天午间，诺和诺德宣布裁员九千人，邮件通知在员工午休时被推送到手机里，工厂门口的保安手里攥着名单，HR在讨论安置方案，股价震荡后的公告里 没有同情，只有数字和时间表，来源：公司公告。 午后，微软财报披露OpenAI上个财季可能亏损一二十亿美元的猜测，投资者的质疑在分析师电话会议上连成一片，数据被逐行读出，科技股波动推动标普 连续第六个月上涨的叙事并未让市场变得温柔，来源：公司财报与市场成交数据。 傍晚，欧股收 ...

Core Viewpoint - Novo Nordisk, once Europe's most valuable company, is facing significant challenges ahead of its third-quarter earnings report, including declining sales, profit pressure, job cuts, and competition in the obesity drug market [1][2]. Company Performance - The company has announced a sharp decline in sales and is under pressure regarding profits, alongside a round of job cuts [2]. - Analysts have mixed views on the stock; Berenberg remains positive, suggesting that Novo has reached "peak uncertainty" and deserves a higher valuation due to its growth profile and R&D returns [3]. - Jefferies has downgraded the stock to underperform, citing competitive pressures and pricing concerns in the U.S. market [4]. Market Dynamics - U.S. President Donald Trump indicated that the price of Novo's weight-loss drug Ozempic would be "much lower" due to negotiations, contributing to downward pressure on the stock price throughout the year [5]. - The company is also facing scrutiny regarding an 8 billion Danish krone ($1.23 billion) one-off restructuring cost that may not be fully reflected in its financials [4]. Corporate Governance - Novo Nordisk is set to hold an Extraordinary General Meeting on November 14 to elect a new board following the resignation of its chair and six directors amid internal disputes [5]. M&A Activity - Despite governance disruptions, Novo Nordisk is actively pursuing mergers and acquisitions, recently entering a bidding war for biotech group Metsera with a $9 billion offer, and previously offering $5.2 billion for Akero Therapeutics [6].

Pfizer Inc. has filed a lawsuit against Metsera Inc. and Danish drugmaker Novo Nordisk A/S, aiming to block Novo's bid for the obesity treatment startup.The legal move comes as a fast-developing battle over Metsera, which is developing potential oral and injectable treatments for obesity and diabetes.According to Bloomberg, Pfizer told the Delaware Court of Chancery on Friday that Novo's offer cannot qualify as a "Superior Company Proposal" under the merger agreement, partly because it faces significant reg ...

图片来源：Getty Images 当前就业市场正经历一段艰难时期。 在广泛的经济不确定性中，一些分析师称企业陷入了"不招人、也不开除人"的停滞状态。这导致许多企 业将新岗位招聘限制在少数特定职位，甚至完全暂停招聘。与此同时，一些大规模的裁员事件持续累积 ——加剧了各行各业员工的焦虑。 一些公司将原因归咎于运营成本上升，这包括唐纳德·特朗普实施的一系列新关税政策以及消费者支出 的转变。其他公司则提到更广泛的企业重组——或者，如亚马逊等知名企业，将资金转向人工智能等领 域的投资。 在这种情况下，"与其说是人工智能直接取代工作岗位，不如说是人工智能对资金的渴求可能导致岗位 流失，"乔治城大学麦克多诺商学院（Georgetown University's McDonough School of Business）的商业管 理教授杰森·施洛策（Jason Schloetzer）说道。他指出，当今各公司普遍存在从雇佣员工向基础设施投 资进行"权衡取舍"的现象。 联邦雇员面临着更多的不确定性，这影响了整个就业市场的工作者情绪。今年初特朗普重返白宫后不 久，联邦工作岗位就被削减了数千个。随着美国政府停摆进入第四周，许多工作 ...

Macro Dynamics - The Ministry of Finance and the State Administration of Taxation announced a tax policy regarding gold transactions, exempting value-added tax for members or clients trading standard gold through the Shanghai Gold Exchange and Shanghai Futures Exchange, effective from November 1, 2025, to December 31, 2027 [2] - A nationwide 1% population sampling survey has commenced, targeting approximately 5 million households and 14 million individuals to gather data on demographics, employment, migration, marriage, fertility, and housing conditions [3] Energy Sector - In September 2025, 7,218 new renewable energy projects were registered, including 32 wind power projects and 7,184 solar power projects, with a significant focus on distributed solar energy [6] - The completion of China's thorium-based molten salt experimental reactor in Gansu represents a significant advancement in nuclear energy technology, aiming to reduce reliance on imported uranium and enhance energy security [7] Financial Institutions - Zhejiang Wangshang Bank reported a total asset scale of 521.46 billion yuan as of the end of September 2025, marking a 10.7% increase from the beginning of the year, with a slight decrease in operating income but a 30.2% increase in net profit [9] Market Data - On October 31, U.S. stock indices collectively rose, with the Nasdaq up 0.61%, marking a 2.24% increase for the week and a 4.7% increase for October [11] - The Nasdaq China Golden Dragon Index rose by 0.53% on October 31, ending a five-month decline [12] Company Dynamics - Novo Nordisk's CEO announced that the company is nearing completion of its plan to lay off 9,000 employees as part of a global restructuring effort [14] - Meituan's flash sale reported significant sales growth on the first day of its Double 11 promotion, with nearly 800 brands seeing sales double compared to the previous year [15] - A land dispute involving Hainan Natural Rubber Industry Group's subsidiary has been reported, with local authorities intervening to maintain order following a conflict over land rights [16]

本文字数：1403，阅读时长大约2分钟 作者 | 第一财经 钱童心 2025.11. 01 两大制药巨头围绕Metsera的竞购大战，不仅关乎企业自身的战略布局，也将对未来全球减重药市场的竞争格局 产生重大影响。 公开资料显示，Metsera的核心资产主要包括处于2期开发阶段的一款GLP-1受体激动剂以及一款处于1期开发中 的超长效胰淀素类似物，这两款药物有望联合使用。"GLP-1 +胰淀素"联合疗法若验证成功，有望在疗效和安全 性上形成差异化优势，对当前市场主流产品构成直接挑战。此外，该公司还拥有两款口服GLP-1多肽药物。 辉瑞自研减重药的过程并不顺利，其管线内的GLP-1减重药Danuglipron因安全隐患终止研发，另一款候选药也 已放弃。连续受挫后，收购成为其快速切入减重药市场的必然选择。同时，面对业绩承压的现状，辉瑞急需通过 布局高增长赛道找到后疫情时代的新增长极。 10月31日，辉瑞对美国减重药厂商Metsera以及丹麦制药巨头诺和诺德提起诉讼，称Metsera违反并购协议条 款。10月25日，诺和诺德对Metsera提出价值高达85亿美元的收购要约，较此前辉瑞对其提出的收购报价高出十 几亿美元 ...

Core Viewpoint - Pfizer has intensified its legal battle against obesity biotech Metsera by filing a lawsuit against both Metsera and Novo Nordisk in the Delaware Court of Chancery on October 31 [1] Group 1: Legal Actions - The lawsuit challenges Novo Nordisk's marketing practices related to its obesity treatments [1] - Pfizer's legal strategy aims to protect its interests in the obesity treatment market [1] Group 2: Market Implications - The litigation could have significant implications for the competitive landscape in the obesity treatment sector [1] - Pfizer's actions may influence investor sentiment and market dynamics surrounding obesity biotechs [1]

今年9月，辉瑞与诺和诺德均提交了修订后的收购提案。辉瑞与Metsera的整个交易过程中的报价，也从 每股30美元增至每股最高70美元。 10月31日，辉瑞对美国减重药厂商Metsera以及丹麦制药巨头诺和诺德提起诉讼，称Metsera违反并购协 议条款。10月25日，诺和诺德对Metsera提出价值高达85亿美元的收购要约，较此前辉瑞对其提出的收 购报价高出十几亿美元。 两大制药巨头围绕Metsera的竞购大战，不仅关乎企业自身的战略布局，也将对未来全球减重药市场的 竞争格局产生重大影响。 公开资料显示，Metsera的核心资产主要包括处于2期开发阶段的一款GLP-1受体激动剂以及一款处于1期 开发中的超长效胰淀素类似物，这两款药物有望联合使用。"GLP-1 +胰淀素"联合疗法若验证成功，有 望在疗效和安全性上形成差异化优势，对当前市场主流产品构成直接挑战。此外，该公司还拥有两款口 服GLP-1多肽药物。 辉瑞自研减重药的过程并不顺利，其管线内的GLP-1减重药Danuglipron因安全隐患终止研发，另一款候 选药也已放弃。连续受挫后，收购成为其快速切入减重药市场的必然选择。同时，面对业绩承压的现 状，辉瑞 ...

来源：市场资讯 （来源：写意宣发） 10月31日，辉瑞宣布美国联邦贸易委员会已批准根据经修订的1976年《哈特-斯科特-罗地诺反垄断改进 法案》（"HSR法案"），提前终止辉瑞即将收购Metsera（NASDAQ:MTSR）的等待期。根据HSR法案 终止等待期符合之前宣布的收购Metsera的监管审查要求，该收购将于11月7日到期。 同时，辉瑞宣布已向特拉华州衡平法院（Delaware Court of Chancery）提起诉讼，起诉Metsera及其董事 会和Novo Nordisk。该诉讼声称，由于Metsera违反了辉瑞和Metsera之间的合并协议规定的义务，因此 违反了合同、违反了信托责任和侵权干涉合同。 辉瑞声称根据合并协议的条款，诺和诺德的报价不符合"Superior Company Proposal"的条件，包括因为 相对于辉瑞的交易，考虑到提案的重大监管风险，诺和诺德的交易不太可能按照拟议的条款完成。相比 之下，今天美国联邦贸易委员会根据经修订的1976年《哈特-斯科特-罗迪诺反垄断改进法案》，就辉瑞 即将收购Metsera一事，提前终止了等待期。辉瑞收购Metsera的所有监管批准均已获 ...

TRENDING: Palantir, Robinhood Earnings Due After Market's Tricky OctoberPfizer (PFE) sued Metsera (MTSR) and Novo Nordisk (NVO) on Friday to prevent Novo's proposed $6.5 billion takeover of the smaller obesity-focused biotech company.The move is the second jab in an escalating battle pitting Pfizer and Novo Nordisk. The first came Thursday when Novo issued an unsolicited bid to buy Metsera, a month after Pfizer struck a deal to acquire Metsera for $4.9 billion.Pfizer's lawsuit asserts that Metsera breached ...