Pedersen, Louise Rasmussen and Maggie Fick COPENHAGEN (Reuters) -Denmark's Novo Nordisk launched a rival bid for U.S. obesity biotech firm Metsera on Thursday, hijacking an offer from Pfizer as the drugmakers jostled for advantage in the highly lucrative weight-loss drug market.

The bidding may signal a new phase in the obesity drug race, which was ignited in 2021 by Novo's launch of Wegovy, the first highly effective obesity drug approved in the U.S.

Eli Lily beating estimates and boosting its full-year revenue guidance.