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Eli Lilly Prepares €15 Billion Abivax Offer, Eyes Next Wave of Weight-Loss Drugs

The company awaits French Finance Ministry guidance on foreign investment rules before making a formal approach.

Overview

  • Eli Lilly is preparing a €15 billion proposal for French biotech Abivax and has not submitted a formal bid as it seeks regulatory clarity in France.
  • Tirzepatide generated $24.8 billion in the first nine months of 2025, surpassing Keytruda as the top-selling medicine and adding an approval for obstructive sleep apnea.
  • Orforglipron, Lilly’s oral weight-loss candidate, is under expedited review with a company-expected approval decision by the end of February 2026.
  • Retatrutide delivered a 28.7% mean weight loss at the highest dose in phase 3, a level not previously seen in the field.
  • Competition is intensifying as Novo Nordisk secured approval for the first oral weight-loss pill and Amgen and Pfizer advance rival programs.