Eli Lilly (NYSE:LLY) is said to be working on a potential €15 billion offer to acquire French biotechnology company Abivax (NASDAQ:ABVX), according to a report published on Monday by La Lettre.
The U.S. pharmaceutical group has not yet formally approached Abivax’s board, but remains interested in the transaction, the report said.
Before launching an official bid, Eli Lilly is reportedly seeking guidance from the French Finance Ministry on whether the proposed acquisition would be subject to France’s foreign investment control framework.
If it proceeds, the deal would represent a significant strategic move for Eli Lilly, strengthening its presence in the French biotechnology market.