Abivax Refutes French Media Reports on AstraZeneca Acquisition Talks

Deep News03-12

French biotechnology firm Abivax denied reports on Thursday from French media suggesting that AstraZeneca PLC is in negotiations to acquire the company.

The denial follows a report by La Lettre, which claimed that AstraZeneca PLC has held exclusive access to Abivax's data since early February and has until March 23 to formally submit a takeover bid.

A spokesperson for Abivax stated that the company completely denies the report but declined to comment further on specific details in the article. AstraZeneca PLC had earlier declined to comment.

Abivax has been repeatedly rumored as a takeover target in recent months, leading to a sharp increase in its share price.

Following the publication of the La Lettre report, the company's stock rose by as much as 15% on Thursday, though gains moderated to around 4% by midday trading.

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