Abivax runs in Paris, after Eli Lilly sprouts interest from AstraZeneca
Last week La Lettre had reported rumours that Eli Lilly was ready to put up to EUR 15 billion on the table. The American group had also approached the French authorities with a view to the acquisition
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(Il Sole 24 Ore Radiocor) - Abivax is back in the spotlight on the Paris Stock Exchange and again on rumours of a takeover bid. The French pharmaceutical laboratory's share price has gained more than 7 points, while the CAC 40 index is falling. According to La Lettre, AstraZeneca (-2.8% in London) is also reportedly interested in acquiring Abivax. The offer from the giant headed by French Pascale Soriot would be the European alternative to US-based Eli Lilly.
Last week La Lettre had reported rumours that Eli Lilly was prepared to put up to EUR 15 billion on the line to take over Abivax, which specialises in therapies for the treatment of chronic inflammatory diseases, particularly in the intestines. According to rumours, the US group has also approached the French authorities with a view to the takeover.
However, the information was denied by the French Ministry of the Economy whose approval would be necessary for such a transaction. On the other hand, the escalating trade tensions with the Trump administration would make a takeover of the brilliant French biotech by a US company rather impractical. The French-led British alternative would instead have a better chance.
