Barclays views Lilly, J&J as top acquirers in Abivax bid talk
Barclays says speculation of takeover interest for French biotech firm Abivax ABVX.PA "should not be surprising" given the compelling clinical profile of its inflammatory bowel disease (IBD) drug obefazimod
Barclays sees Eli Lilly LLY.N and Johnson & Johnson JNJ.N as the "most logical" acquirers to better compete with AbbVie ABBV.N in IBD. Says Pfizer PFE.N could also be interested depending on its business development ambitions
It sees Federal Trade Commission risk as low for Lilly; higher for J&J due to existing IBD assets
Abivax rose by over 20% on Wednesday on market rumours about takeover interest from Eli Lilly. Both Abivax and Lilly declined to comment
Based on deals worth over $2 billion since 2024, Barclays estimates theoretical acquisition price of around $9-10 billion, close to Abivax's current enterprise value
Abivax shares have surged over 1,500% this year on positive ulcerative colitis drug data
The stock was down 2% on Thursday, as of 1506 GMT
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