The French pharmaceutical giant said it’s in negotiations to sell a controlling stake of Opella to the private equity firm CD&R, in a deal that reportedly could be worth more than $16 billion.

The offering will fund testing of a potential rival to Amgen’s Tezspire and is already the sixth for an immune drug developer this year, the most since 2021.

Itovebi is part of a push by Roche to make new inroads in breast cancer. Elsewhere, Turnstone is trimming preclinical research and Gritstone bio is working on a bankruptcy deal.

The offering will fund testing of a potential rival to Amgen’s Tezpire and is already the sixth for an immune drug developer this year, the most since 2021.

Attorneys argue Khan and two other commissioners are biased against pharmacy benefit managers and should recuse themselves from an ongoing lawsuit against the middlemen.

In a letter to Pfizer’s board, the activist investor claimed former CEO Ian Read and CFO Frank D’Amelio were pressured to abandon a Starboard-led attempt to change the company’s direction.