Is Eli Lilly interested in buying Abivax?

Media reports on January 12 suggest Eli Lilly is interested in acquiring Abivax for approximately 15 billion euros.

What is Abivax's key drug?

Abivax's key drug is obefazimod, an experimental treatment for ulcerative colitis.

How much is Abivax's market capitalization?

As of January 12, Abivax's market capitalization is being reported as significantly lower than the potential 15 billion euro acquisition offer.

Home / Business and Economy / Abivax Soars on Eli Lilly Acquisition Rumors

Abivax Soars on Eli Lilly Acquisition Rumors

12 Jan

•

Summary

Abivax shares jumped 23% on reports of Eli Lilly's interest.
Eli Lilly reportedly willing to pay 15 billion euros for Abivax.
Abivax CEO highlights drug obefazimod's future market potential.

Abivax Soars on Eli Lilly Acquisition Rumors

Shares of Abivax experienced a significant surge of 23% on Monday, reaching over 121 euros. This upward movement was fueled by a media report indicating continued interest from U.S. pharmaceutical major Eli Lilly in acquiring the French biotechnology company for an estimated 15 billion euros ($17.5 billion).

Abivax CEO, Marc de Garidel, emphasized the significant potential of the company's experimental drug, obefazimod, which is being developed for ulcerative colitis. He suggested that obefazimod could become a widely used treatment within the next decade, attracting attention from larger pharmaceutical players.

Brokerage Kepler Cheuvreux identified Abivax as a prime acquisition target, especially after the drug showed promising results in Phase 3 trials. Analysts project that a takeover could see Abivax shares valued between 150 and 250 euros, reflecting strategic value and potential synergies.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.