Core Viewpoint - Novo Nordisk is attempting to outbid Pfizer for Metsera to strengthen its position in the $100 billion weight loss drug market, with negotiations ongoing and a potential deal expected soon [1][2]. Group 1: Company Actions - Novo Nordisk has raised its offer to acquire Metsera, which had previously reached an agreement with Pfizer [1]. - Pfizer's initial offer for Metsera was $47.50 per share, valuing the company at approximately $4.9 billion, with potential additional payments based on milestones [1]. - Metsera's stock price has surged nearly threefold this year, reaching $52.21, with a market capitalization of about $5.5 billion [1]. Group 2: Market Context - The obesity market is projected to reach $100 billion by 2030, attracting major pharmaceutical companies to acquire promising candidates [2]. - Metsera is developing several weight loss drugs, including a long-acting injection that may have a lower dosing frequency compared to Novo Nordisk's Wegovy and Eli Lilly's Zepbound [2]. - Metsera's pipeline focuses on "long-acting insulin analogs," which are seen as potentially milder alternatives to GLP-1, a class of drugs known for common side effects like nausea and vomiting [2]. Group 3: Competitive Landscape - Novo Nordisk remains a leader in the weight loss sector but needs next-generation therapies to surpass Eli Lilly [3].