PARIS, Jan 12 (Reuters) – France’s finance ministry has received no request seeking investment approval in French biotech Abivax and has had no contact with Eli Lilly, a ministry official said on Monday, after a media report that the U.S. pharma giant was still interested in buying the company. Shares in Abivax soared up to […]
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France has had no request for investment approval in biotech Abivax – official
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PARIS, Jan 12 (Reuters) – France’s finance ministry has received no request seeking investment approval in French biotech Abivax and has had no contact with Eli Lilly, a ministry official said on Monday, after a media report that the U.S. pharma giant was still interested in buying the company.
Shares in Abivax soared up to 23%, exceeding 121 euros, earlier on Monday after French media La Lettre reported that Eli Lilly was ready to buy biotech for 15 billion euros ($17.5 billion), almost double its current market capitalisation.
Shortly before 0300 GMT, shares were still gaining around 8%.
Any move by Eli Lilly would be subject to a mandatory screening by the French finance ministry, the official said.
(Reporting by Mathieu Rosemain, writing by Louise Rasmussen, editing by Benoit Van Overstraeten)