The market for obesity and diabetes treatments remains scorching hot, funneling billions in sales to Eli Lilly and fueling a bidding war over another drugmaker.

Lilly said Thursday that its top-selling drugs, Mounjaro and Zepbound, brought in more than $10 billion combined during the recently completed third quarter. That made up over half of the drugmaker’s $17.6 billion in total sales.

Separately, Danish drugmaker Novo Nordisk announced plans to buy Metsera Inc. in a deal that could be worth up to $9 billion.

That came more than a month after U.S. drugmaker Pfizer Inc. made a nearly $5 billion bid for Metsera, which has no drugs on the market but is developing several potential oral and injectable treatments.

Popular treatments labeled GLP-1 receptor agonists are fueling the soaring

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