AMERICA’s BODY corporate looks, as a whole, to be in rude health. One large company after another is presenting record quarterly results. Bosses are raising profit forecasts left and right. Poke and prod big business, though, and you find pockets of sickliness. On November 4th Pfizer, maker of drugs from covid-19 vaccines to Viagra, reported year-on-year declines in sales and earnings. To add insult to this financial injury, it has found itself in a bidding war against Novo Nordisk, a Danish rival, over Metsera, a developer of anti-obesity drugs for which Pfizer has raised its offer from $7bn in September to $10bn this week.
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