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Apellis Pharma attracts takeover interest from larger drug makers, reports Bloomberg

Written by MD Bureau Published On 2023-04-03T13:00:00+05:30  |  Updated On 3 April 2023 1:00 PM IST
Apellis Pharma attracts takeover interest from larger drug makers, reports Bloomberg
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Apellis is speaking to advisers to consider its options and may also seek partnerships or licensing agreements for some of its ophthalmology products, the report said.

Delhi: Biotech company Apellis Pharmaceuticals Inc (APLS.O) has drawn takeover interest from larger drug makers, Bloomberg News reported on Sunday, citing people with knowledge of the matter.

Apellis is speaking to advisers to consider its options and may also seek partnerships or licensing agreements for some of its ophthalmology products, the report said.

Also Read: Manufacturing licence of Marion Biotech cancelled by UP authority over cough syrup adulteration

The Waltham, Massachusetts-based company currently prefers to stay independent, the report added, citing two of the people with knowledge of the matter. It has a market capitalization of $7.52 billion, according to Refinitiv data.

Apellis did not immediately respond to a Reuters request for comment.

In February, the U.S. Food and Drug Administration had approved the company's drug Syfovre, which slows down the progression of the eye disease geographic atrophy (GA), becoming the only FDA-approved treatment for the disorder.

Bloomberg News had previously reported that gene therapy company BridgeBio Pharma Inc (BBIO.O) has also attracted takeover interest from some large pharmaceutical firms, adding that it may also decide to remain independent longer.

Also Read: Centre recommends UP Drug Controller Authority to cancel manufacturing licence of Marion biotech
BiotechBridgeBio PharmaApellis Pharmaceuticalsapellis pharmaophthalmology products
Source : Reuters
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