Pfizer’s pricing deal with the Trump administration, which won the company a three-year exemption from sector-specific tariffs on drug imports in return for minimal drug-price concessions, set off a short-lived stock surge. Shares jumped 14% in the two days following the White House press conference where the administration announced the deal.

Pressure from the FTC and Pfizer is building around Novo Nordisk’s bid to snatch obesity biotech Metsera: The antitrust watchdog has spotted issues with the structure of Novo’s bid, while its New York-based rival has put more money on the table.