Lundbeck Reportedly Explores Xeris Acquisition

Danish drugmaker Lundbeck is exploring a possible acquisition of Xeris Biopharma and has been working with advisers, but sources say there is no certainty a deal will happen. Xeris said it is not for sale and remains focused on developing and commercializing its medicines. The U.S. biotech sells three treatments for endocrine and rare diseases and is advancing a once-weekly hypothyroidism injection; it reported about $92 million in second-quarter revenue alongside an unexpected net loss. Reports of the potential interest prompted sharp movement in Xeris shares.