Shares of French biotech Abivax jumped more than 23% in Paris after a report from La Lettre said U.S. drugmaker Eli Lilly remains interested in a takeover. The article noted Lilly could pay about €15 billion—nearly double Abivax’s market cap—though no formal offer has been made. The French Finance Ministry will decide whether foreign investment controls apply.

Abivax’s chief executive, Marc de Garidel, told Bloomberg that its lead drug, obefazimod, could become a top ulcerative colitis treatment. The company’s phase‑III data have attracted attention from big pharma, and analysts see a potential premium of €150‑250 per share if a deal closes. A takeover would add control value and synergies beyond the standalone valuation.

Investors now weigh the likelihood of a bid against the uncertainty of regulatory approval and competition. If Lilly moves forward, Abivax could see a sharp valuation lift, while the broader IBD market watches for a new blockbuster candidate. The move could reshape the IBD drug pipeline.