Novo Nordisk recently confirmed reports about its unsolicited proposal submission to Metsera, aimed at acquiring its early and development stage incretin analogue peptide programs. 1 Both Metsera and Pfizer, who earlier this year agreed to a merger, released responses in reaction to the unexpected acquisition proposal.

Stocks traded mostly to the downside Thursday with shares of companies in the tech sector leading declines as Meta Platforms and Microsoft fell following the release of their quarterly earnings.These stocks were moving Thursday:Meta Platforms missed analysts’ third-quarter earnings expectations and the stock declined 10%.

The restaurant chain posted a drop in net income and quarterly revenue missed forecasts. Chipotle said economic strains were [turning customers away from its stores](

A bidding war between Novo Nordisk and Pfizer has broken into the open for Metsera, which focuses on developing drugs to treat obesity

Pfizer Inc. (NYSE: PFE) is aware of the reckless and unprecedented proposal by Novo Nordisk A/S (NYSE: NVO) to acquire Metsera, Inc. (NASDAQ: MTSR). It is an attempt by a company with a dominant market position to suppress competition in violation of law by taking over an emerging American challenger.