Pharmaceutical Giants Race to Capture Booming Weight-Loss Market

Roche has made a significant move in the weight-loss drug race, as the Swiss pharmaceutical giant advances its experimental obesity treatment to a late-stage trial. This advancement positions Roche alongside industry leaders Eli Lilly and Novo Nordisk amidst a burgeoning weight-loss market, as shares rose by 2.8% in afternoon trading.

In other industry news, Pfizer has announced its acquisition of Metsera in a deal valued at up to $7.3 billion. This strategic purchase aligns with Pfizer's goals to capture a significant portion of the rapidly expanding obesity treatment market, predicted to reach $150 billion by the 2030s.

Healthcare and legal developments also surfaced with Omnicare, a CVS subsidiary, filing for bankruptcy to resolve legal issues arising from a lawsuit for fraudulent billing. Meanwhile, South Korea's Celltrion announced a $330 million acquisition of Eli Lilly's production facility, a move expected to be finalized by year's end.

(With inputs from agencies.)