Health
Obesity Drug Developers Rise on M&A Hopes After Pfizer Setback
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Shares of several biotechs developing obesity drugs rallied on Monday after Pfizer Inc. halted development of its closely watched experimental pill, as investors bet that the setback could spur dealmaking by Pfizer.
Viking Therapeutics Inc. jumped nearly 11%, while Structure Therapeutics Inc. climbed around 19% and Terns Pharmaceuticals Inc. rose 7.9%. Metsera Inc., meanwhile, surged around 30%.