Novo Nordisk boosted its takeover offer for obesity biotech Metsera to as much as $10 billion, proposing an initial cash dividend followed by contingent payments tied to development milestones. Pfizer responded by raising its own offer and filing lawsuits alleging breach of contract and anticompetitive conduct, arguing Novo’s plan would unlawfully eliminate a nascent U.S. competitor in the GLP‑1 obesity market. Metsera’s board declared Novo’s late, larger proposal a superior company proposal under its merger agreement with Pfizer, triggering a legal tug‑of‑war in Delaware courts. The bidding war underscored the strategic value of Metsera’s incretin pipeline to established pharma and raised questions about regulatory and antitrust risk in deals involving dominant GLP‑1 players. Share trading in Metsera surged amid the dispute; both suitors signaled willingness to press their cases, with Pfizer highlighting potential regulatory hurdles if Novo proceeds.