Lundbeck Explores Potential Takeover of Xeris Biopharma, Bloomberg Reports

Danish pharmaceutical company H. Lundbeck A/S is exploring a potential takeover of U.S. drugmaker Xeris Biopharma Holdings Inc., according to a Bloomberg report citing people familiar with the matter. The talks are said to be in a preliminary stage and may not result in a formal transaction.

The Potential Offer

Lundbeck, a company specializing in neurological and psychiatric disorders, is reportedly working with financial advisers to evaluate an acquisition of Xeris. In response to the report, 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 products.

Discussions remain confidential, and there is no certainty that Lundbeck will proceed with a formal offer. The approach comes after shares of Xeris have surged nearly 20% over the past twelve months, bringing its market valuation to approximately $1.8 billion.

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Strategic Rationale

A potential acquisition would mark a strategic expansion for Lundbeck, which has a market capitalization of roughly $6.6 billion (43.3 billion Danish kroner). While Lundbeck's core portfolio targets conditions like Parkinson's disease and schizophrenia, Xeris focuses on therapies for endocrine and rare diseases.

Xeris's commercial portfolio includes three approved treatments, most notably Recorlev for Cushing’s syndrome. The company is also developing a once-weekly injection for hypothyroidism, aiming to replace daily oral medications. An acquisition would grant Lundbeck entry into the rare endocrine disorder market and access to Xeris's specialized drug formulation technologies.