The auction for Metsera intensified as Novo Nordisk raised its takeover bid to counter Pfizer, while a Delaware court denied Pfizer’s emergency request to block Novo’s offer. Regulators and antitrust officials have scrutinized deal structure and timing — the FTC warned that elements of Novo’s proposed transaction could violate pre‑merger notification rules — but the court’s refusal to block the deal keeps the acquisition tussle open. Both bidders frame the acquisition as strategic to obesity portfolios; the dispute highlights antitrust and procedural risks in contests for high‑value obesity assets.