(CercleFinance.com) – The biopharmaceutical company Medincell announced on Wednesday that it had requested the suspension of the trading of its shares on Euronext Paris pending the publication of a press release.
This decision comes as its stock price has soared by more than 106% since the start of the year, a surge due to the success of its long-acting injectable products.
After the success of its collaboration with the Israeli generic manufacturer Teva, Medincell formalized last month a strategic partnership with the American group AbbVie, representing a potential of 1.9 billion dollars.
The licensing agreement covers the development and commercialization of up to six products in different therapeutic areas and target indications from AbbVie, known for its lead rheumatoid arthritis drug Humira.
Medincell specifies that the resumption of negotiations on its securities will take place tomorrow at the opening of the Paris Stock Exchange.