Eli Lilly reported tirzepatide (Mounjaro/Zepbound) sales exceeding $10 billion for the third quarter, prompting the company to raise revenue guidance. The blockbuster performance cements tirzepatide as a market leader in diabetes and obesity and accelerates commercial competition across the metabolic drug class. Novo Nordisk, which faces pressure from rival Lilly’s gains, has signaled a more aggressive M&A posture under new CEO Maziar Mike Doustdar. The company’s higher‑profile bid for Metsera reflects that shift. Together the earnings and strategic moves underline intensifying consolidation and competition in obesity therapeutics, with incumbents pursuing acquisitions to replenish and diversify peptide and non‑peptide portfolios.