BUZZ-Ocular shares surge after report Sanofi revives acquisition interest

Reuters01-15
BUZZ-Ocular shares surge after report <a href="https://laohu8.com/S/GCVRZ">Sanofi</a> revives acquisition interest

** Shares of biopharma firm Ocular Therapeutix OCUL.O jump 14.2% to $12.64

** Sanofi SASY.PA is reportedly targeting OCUL for acquisition, according to French newspaper La Lettre

** French drugmaker had initially bid to buy Ocular for $16 per share last summer that was rejected in September - RBC

** RBC Capital Markets analyst Lisa Walter says "Sanofi is now preparing an improved proposal"

** For Sanofi, there is a need to replace Dupixent revenue which is facing LOE in 2031 and entering into the $15 billion neovascular, diabetic eye disease market could help, Walter adds

** As of last close, OCUL up 36.2% in past 12 months

(Reporting by Siddhi Mahatole)

((siddhi.mahatole@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment