Market Chatter: Abivax CEO Plays Down Eli Lilly Takeover Talk

MT Newswires Live01-20

Abivax (ABVX) CEO Marc de Garidel dismissed French media reports claiming Eli Lilly (LLY) may be considering a takeover of the biotech company, Reuters reported Tuesday.

De Garidel said he was unaware of any meetings between Eli Lilly or any other company and France's finance ministry regarding Abivax, according to the report.

The CEO said any discussion with authorities about a takeover could only occur after a public transaction had been formally announced by both parties, which has not happened, according to the report.

Shares of Abivax were up 4.2% in recent Tuesday premarket activity.

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