Lundbeck reportedly expresses interest in buying Xeris
XERS•Lundbeck has expressed interest in acquiring Xeris and has been working with advisers to explore a takeover, Bloomberg News reported, citing people familiar with the matter.
1. Takeover interest
Danish drugmaker Lundbeck has expressed interest in acquiring Chicago-based Xeris Biopharma, and has been working with advisers to explore a takeover, Bloomberg News reported, citing people familiar with the matter. Lundbeck and Xeris did not immediately respond to requests for comment.
2. Xeris products and sales
Xeris develops therapies focused on endocrine and rare neuromuscular conditions and has three commercially available drugs: Recorlev, Gvoke and Keveyis. In August, the company reported second-quarter revenue of $91 million, citing strong demand for Recorlev, which treats high levels of cortisol in adults with Cushing's syndrome. Xeris had a market capitalization of $1.79 billion as of last close.
