Eli Lilly is reportedly preparing a €15 billion offer to acquire French biotechnology firm Abivax. The U.S. pharmaceutical giant has not yet submitted a formal bid to Abivax’s board, according to a report by La Lettre.
Before proceeding, Eli Lilly awaits guidance from the French Finance Ministry. The company needs confirmation on whether the potential takeover would be subject to foreign investment controls.
News of the potential bid caused Abivax shares to soar 23%. If completed, the deal would mark a significant expansion for Eli Lilly into the French biotech sector.