New rumors about Eli Lilly’s curiosity push Abivax to the Paris Stock Exchange | EUROtoday

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(Il Sole 24 Ore Radiocor) – The rekindling of hypotheses a few attainable acquisition by the American pharma large Eli Lilly & Company provides wings to Abivax on the Paris Stock Exchange (CAC 40). The inventory of the French biotechnology firm is among the many finest on the Euro Stoxx 600 and can also be rising within the American premarket.

In element, based on the newspaper “La Lettre”, at the start of December some representatives of the American pharmaceutical firm (which with Novo Nordisk is among the important opponents within the slimming tablet problem) had contacts with French Treasury officers to judge the regulatory framework for a possible acquisition of Abivax. Rumors not confirmed and never denied by Eli Lilly, which nevertheless had already contributed to pushing the shares of the French biotech to historic highs at the start of the month, at 126.60 euros. In actuality, the market highlight has been on Abivax since July, that’s, for the reason that firm introduced roptimistic leads to the Phase 3 trial of the drug Obefazimod, its lead product in growth for the therapy of ulcerative colitis. The information on the time had in reality sparked renewed investor curiosity, triggering a 500% rally in Paris in a single session on the wave of assessments of the drug’s business potential. Following the sturdy revaluation of the inventory – which has jumped by greater than 1,300% for the reason that starting of the yr, Abivax has determined to submit a request to supply as much as 400 million {dollars} on the American market in American Depositary Shares. The firm may very well be very worthwhile “prey” for Eli Lilly, which is working to broaden into a number of areas. In truth, solely at the start of December did it full the acquisition of Adverum Biotechnologiesa US developer of gene therapies, increasing its pipeline into ophthalmology.