AstraZeneca Reaches New Heights, Pfizer Makes Bold Acquisition

AstraZeneca achieves a record high with its stocks, solidifying its status as the UK's top company by market value. Meanwhile, Pfizer's $10 billion acquisition of Metsera signals its strong intent to compete in the obesity treatment market, projected to peak at $150 billion by the 2030s.

AstraZeneca continues its upward trajectory as its shares reached an unprecedented high on Tuesday, reinforcing its dominance as the UK's leading stock by market capitalization. This growth was propelled by better-than-expected quarterly earnings and a recent U.S. drug-pricing agreement that alleviated policy uncertainties.

In a move to secure a foothold in the burgeoning market for obesity treatments, Pfizer finalized a $10 billion acquisition of the biotechnology firm Metsera. The transaction comes after a competitive bidding process against Novo Nordisk, highlighting Pfizer's aggressive strategy to regain prominence in a sector anticipated to reach $150 billion within the next decade.

These developments underscore the intense competition and strategic shifts within the pharmaceutical industry, as companies vie for dominance in lucrative sectors, driven both by innovative treatments and strategic acquisitions.

(With inputs from agencies.)