Mergers and Acquisitions - Pfizer wins bidding war for Metsera, an obesity drug developer, with a sweetened offer of potentially $10 billion, surpassing Novo Nordisk's bid [1][4] - The industry anticipates the obesity drug market to reach $125 billion [4] Executive Appointments - Diageo appoints Dave Lewis, former CEO of Tesco, as its new CEO, starting in 2026 [1][2] Transportation and Safety - UPS and FedEx ground over 50 McDonald Douglas MD11 cargo planes following a fatal crash in Kentucky [2] Legal and Regulatory - Visa and Mastercard are nearing a settlement with merchants regarding credit card interchange fees after 20 years of legal disputes [2] Media and Politics - Head of news at the BBC resigns due to criticism over the editing of President Trump's January 6th, 2021 speech [3] Market Performance - Meta shares are down almost 15% [4] - Pfizer shares are up [4]

Clinical Trial Results & Market Reaction - Eli Lilly's experimental pill Orphon showed an 11% weight loss in patients during a late-stage clinical study [1] - Despite the positive results, Eli Lilly's shares fell, as Wall Street anticipated better performance in line with injectable weight loss drugs [1] - Novo Nordisk's Wegovy showed up to 15% weight loss in trials [2] - Eli Lilly's Zepbound had even better weight loss results than Wegovy [2] Market Potential & Challenges - Analysts forecast the weight loss market to grow to $95 billion by 2030 [3] - Pills are considered key to reaching a broader patient base in the weight loss market [3] - Developing effective weight loss pills has been challenging, with Pfizer and AstraZeneca facing setbacks [3] Future Plans - Eli Lilly plans to submit Orphon's findings for approval by the end of the year [4] - If approved, Orphon could be available in pharmacies as early as 2026 [4]

Obesity Drug Market & Competition - Amgen's once-monthly weight loss shot, Maritide, showed patients without type 2 diabetes losing an average of 20% of their body weight after one year, but with a high rate of side effects and discontinuations [1] - Eli Lilly appears to be leading the obesity drug race with a safe oral candidate and an injectable (amalin) that provides weight loss with less muscle mass loss [2] - Novo Nordisk is facing challenges with disappointing Kaggarma data, while Eli Lilly is presenting positive results [2] - Novo Nordisk currently holds 33% of the market share, but Eli Lilly's oral data looks promising [4] - The market may not be seeking a 25% weight loss if other options offer around 22% [5] Amgen's Valuation & Pharma Sector - Amgen's stock dropped almost 6% after disappointing results for its weight loss shot [1] - Amgen is trading at approximately 12-13 times next year's numbers, which may not be considered cheap given the current pharma multiples and revenue cliffs [7][8] - The average pharma multiple is around 10 [7] - Over 50% of revenue for companies like Merck and Bristol-Myers Squibb will disappear by the end of the decade [8] Biotech & M&A - Biotech has had a decent run, with potential catalysts for M&A activity [9] - Despite potential asset quality concerns, increased M&A activity is expected in the biotech sector due to revenue degradation at the pharma level [11] - Big Pharma companies need to pursue M&A, with Pfizer, having spent $60 billion since the pandemic, actively seeking more assets, potentially in the obesity area [12]