Lundbeck’s higher $23 bid lifts Avadel’s near-term upside and sparks talk of a bidding war, but its non-binding terms, CVR risks, and the board’s support for Alkermes leave the outcome uncertain.

Investindustrial’s bid sent TreeHouse Foods soaring as the PE firm targets its margin-expansion plan, private-label growth, strong cash flow, and discounted valuation—despite recent weak results.

Intellia plunged after a patient died in its ATTR trial, prompting FDA holds on two Phase III studies and raising serious questions about safety, CRISPR risks, and the future of its pipeline.