Why pfizer Is Trending Today?

Pfizer has filed a lawsuit against Metsera and Novo Nordisk, alleging that they violated a merger agreement. The dispute stems from a rival offer made by Metsera and Novo Nordisk, which Pfizer claims breaches their existing deal.

Pfizer has initiated legal action against Metsera and Novo Nordisk, alleging breach of a merger agreement. This move comes as Pfizer seeks to prevent Novo Nordisk's rival bid for Metsera, a drugmaker focused on obesity treatments. The dispute, valued at around $8.5 billion, has led to a public battle between the two pharmaceutical giants, with Metsera issuing a statement in response to the litigation. Pfizer has also received early termination of the Hart-Scott-Rodino (HSR) waiting period for its planned acquisition of Metsera, indicating progress in its regulatory clearance process. Meanwhile, Novo Nordisk has confirmed its status as a leading bidder for Metsera, with analysts weighing in on the ongoing takeover battle. The bidding war has driven Metsera's stock price to an all-time high.