Business
Halozyme to Acquire Antares Pharma to Create a Specialty Product and Drug Delivery Leader
Transaction Expected to be Immediately Accretive to Revenue and Non-GAAP Earnings in 2022 with Multiple Drivers to Accelerate Financial Growth Through 2027
About this update from Halozyme Therapeutics, Inc.
[{"type":"text","content":"Transaction Expected to be Immediately Accretive to Revenue and Non-GAAP Earnings in 2022 with Multiple Drivers to Accelerate Financial Growth Through 2027 and Beyond\nAugments Drug Delivery Business with Best-in-Class Auto Injector Platform with Broad Licensing Potential \nDiversifies Revenue Mix with Addition of Growing Testosterone Replacement Therapy Product Revenues to Anchor Commercial Opportunity with Key Targeted Audiences \nCreates a Leading Drug Delivery Business with Broadly Licensable Opportunities across ENHANZE and Antares Auto Injector Platforms\nHalozyme to Host Conference Call and Webcast Today at 8:00 a.m. ET/5:00 a.m. PT \nSAN DIEGO and EWING, N.J., April 13, 2022 /PRNewswire/ -- Halozyme Therapeutics, Inc. (NASDAQ: HALO) (\"Halozyme\") and Antares Pharma, Inc. (NASDAQ: ATRS) (\"Antares\") today announced that the companies have entered into a definitive agreement pursuant to which Halozyme will acquire Antares for $5.60 per share in cash. The transaction, which values Antares at approximately $960 million, was unanimously approved by both the Halozyme and Antares Boards of Directors.\n\n \n \n \n \n \n \n\n \nThe transaction is expected to be immediately accretive to Halozyme's 2022 revenue and non-GAAP earnings and to accelerate top- and bottom-line growth through 2027, with multiple growth drivers beyond 2027. The combination of Halozyme and Antares will create a leading drug delivery and specialty product company. The Antares business consists of a best-in-class, differentiated, royalty revenue generating auto injector platform business that offers broad licensing opportunity, and a commercial business, with three proprietary commercial products.\n\"The addition of Antares, particularly with its best-in-class auto injector platform and specialty commercial business, augments Halozyme's strategy, further strengthens our position as a leading drug delivery company and extends our strategy to include specialty products,\" said Dr. Helen Torley, president and chief executive officer of Halozyme. \"The acquisition of Antares fits well with our previously discussed strategic priorities and provides substantial financial growth potential and disruptive solutions to significantly improve patient experiences and outcomes for emerging and established therapies. Halozyme is well-positioned to leverage Antares' value ...