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Lundbeck Approaches Xeris Biopharma Over Potential Takeover
H Lundbeck has expressed interest in a potential takeover of Chicago-based commercial-stage drugmaker Xeris Pharmaceuticals Inc, according to people familiar with the matter cited by Bloomberg. The Danish pharmaceutical group has been working with financial advisers to explore an acquisition of the U.S. firm, though discussions remain preliminary and may not result in a formal transaction. Shares of Xeris have surged almost 20% over the past 12 months, lifting the company's market valuation to approximately $1.8 billion, while Lundbeck holds a market capitalization of roughly 43.3 billion Danish kroner, or $6.6 billion. A spokeswoman for Xeris told Bloomberg that the company is "not for sale" and remains "laser focused on improving patient lives by developing and commercializing" its therapeutic portfolio, which centers on endocrine and rare diseases and three approved treatments, including Recorlev for Cushing's syndrome. Any deal would expand Lundbeck's footprint into rare endocrine disorders and specialized formulation technologies, beyond its traditional focus on neurological and psychiatric conditions such as Parkinson's disease and schizophrenia.
0ABR.LSE · Capital · Neutral Lundbeck is working with advisers on a possible acquisition of Xeris, but talks are preliminary and may not result in a deal.
XERS · Capital · Positive Lundbeck is exploring a potential takeover of Xeris, a financial/M&A event that could deliver a premium to Xeris shareholders.
