Biopharmaceutical company Medincell announced on Wednesday that it had applied for its shares to be suspended from trading on Euronext Paris pending the publication of a press release.

This decision comes at a time when its share price has soared by over 106% since the start of the year, a surge driven by the success of its long-acting injectable products.

Following the success of its collaboration with Israeli generics manufacturer Teva, last month Medincell formalized a strategic partnership with US group AbbVie, representing a potential $1.9 billion.

The licensing agreement covers the development and commercialization of up to six products in various therapeutic areas and target indications of AbbVie, best known for its flagship drug Humira for rheumatoid arthritis.

Medincell notes that trading in its shares will resume tomorrow at the opening of the Paris Bourse.

Copyright (c) 2024 CercleFinance.com. All rights reserved.