Business
HALOZYME PROVIDES UPDATE ON LICENSEE CO-FORMULATION PATENT HEARING IN EUROPE
Company Projects No Impact on U.S. or European Royalty Revenues from DARZALEX FASPRO® and SC through 2032 Reiterates 2024 Royalty Revenue Guidance of $520-555
About this update from Halozyme Therapeutics, Inc.
[{"type":"text","content":"Company Projects No Impact on U.S. or European Royalty Revenues from DARZALEX FASPRO® and SC through 2032\nReiterates 2024 Royalty Revenue Guidance of $520-555 million and Expectations to Generate >$1 billion in 2027\nConference Call Scheduled Today, Thursday, October 24 at 5:30am PT/8:30am ET\nSAN DIEGO, Oct. 24, 2024 /PRNewswire/ -- Halozyme Therapeutics, Inc. (NASDAQ: HALO) today provided an update following a decision by the Opposition Division of the European Patent Office (\"EPO\") to revoke one of the Janssen Biotech, Inc. (Janssen) co-formulation patents for DARZALEX® (daratumumab) SC (Patent EP 3827845).\n\"We remain confident in our strong royalty revenue projections with 8 approved partner products on the market today, which is expected to reach 10 by 2025. The EPO decision on a single co-formulation patent in Europe has no impact on our 2024 royalty revenue projections and expectations to exceed $1 billion in royalty revenues in 2027. We also project no impact on our U.S. or European royalty revenues on sales of DARZALEX FASPRO and SC through 2032. Additionally, this decision has no impact on the ability of any other Halozyme licensee to obtain co-formulation patents for their innovations,\" said Dr. Helen Torley, president and chief executive officer.\n\"While we are disappointed with the EPO's decision today, if Janssen files an appeal in the case, today's decision would be suspended and the patent would remain in force until the case is finally decided,\" Dr. Torley concluded.\nToday's decision by the EPO has no impact on Halozyme's composition of matter patents in the U.S. and Europe for ENHANZE®.\nHalozyme will provide additional details on today's EPO decision and its intellectual property portfolio during an Investor Update conference call today, Thursday, October 24 at 5:30am PT/8:30am ET. A webcast of the live call and presentation will be available through the \"Investors\" section of Halozyme's corporate website at ir.halozyme.com.\nAbout Halozyme\nHalozyme is a biopharmaceutical company advancing disruptive solutions to improve patient experiences and outcomes for emerging and established therapies. As the innovators of ENHANZE® drug delivery technology with the proprietary enzyme rHuPH20, Halozyme's commercially-validated solution is used to facilitate the subcutaneous delivery of injected drugs and flui...