AUPH - Aurinia Pharmaceuticals gains amid M&A speculation following patent settlement

• Aurinia Pharmaceuticals ( NASDAQ: AUPH ) rose 5% amid speculation the company may be a takeover target after Tuesday's patent settlement with Sun Pharmaceuticals.
• Aurinia ( AUPH ) surged 38% on Tuesday after the company said it reached a settlement with India's Sun Pharmaceuticals over the patent challenge of its lupus nephritis treatment Lupkynis.
• Aurinia ( AUPH ) has been the subject of takeover speculation for over a year since Bloomberg report in October 2021 about a potential bid from Bristol-Myers Squibb ( BMY ).
• Dealreporter highlighted in its "Morning Flash" piece on Wednesday that Aurinia ( AUPH ) could be viewed as a takeover target with the patent overhang lifted.
• Last month Aurinia's ( AUPH ) lupus nephritis drug Lupkynis won approval in the UK.

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