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    Home»Bio Technology»Drugmakers Eye $23 Billion Biotech Argenx Ahead of Key Data
    Bio Technology

    Drugmakers Eye $23 Billion Biotech Argenx Ahead of Key Data

    yourbiotechBy yourbiotechMay 18, 2023Updated:May 18, 2023No Comments2 Mins Read
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    Several major drugmakers keen to expand in immunology have been studying the $23 billion company for some time and have it at the top of their wish lists, according to people familiar with the matter. Argenx has been working with JPMorgan Chase & Co. to help identify options in the event of any takeover bid, the people said, asking not to be identified because the information is private.

    Interest is expected to pick up if results in July show that a key Argenx drug—already approved for one autoimmune disorder—can effectively tackle another disease, the people said. The therapy, called Vyvgart, could eventually generate up to $10 billion in peak sales if approved for all the conditions it’s being studied for, according to analysts at Robert W. Baird & Co.

    “This could be a mega blockbuster drug,” said Yaron Werber, a senior biotechnology analyst at TD Cowen. “It’s going to be too hard for strategic acquirers to ignore this opportunity. It’s too lucrative, too unique, too profitable, too strategic.”

    ‘Best in Class’

    Argenx’s American depositary shares rose as much as 2.3% on Wednesday morning. They have advanced about 29% in New York trading over the past 12 months, outpacing the 11% gain in the Nasdaq Biotechnology Index.

    The company has designed a new class of drug to block and remove certain harmful antibodies from the blood, targeting diseases where a person’s immune system attacks their own body. 

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