Halozyme leaps on news of multi-million dollar deals with Bristol-Myers and Roche

14 September 2017

US pharma major Bristol-Myers Squibb (NYSE: BMY) has entered into a global collaboration and license agreement to develop its subcutaneously administered immuno-oncology medicines using Halozyme Therapeutics’ (Nasdaq: HALO) ENHANZE drug-delivery technology.

Halozyme’s share price shot up 18.36% to $15.60 in pre-market trading this morning on news of the deal, which coincided with an announcement that Swiss pharma giant Roche (ROG: SIX) plans to use Halozyme’s delivery technology for another target of its own - expanding on their collaboration. This adds a $30 million up-front payment, bringing the deals revealed today to close to a potential $2 billion for Halozyme.

“We are excited to partner with Halozyme to pursue potential new approaches to how our medicines are delivered to patients,” said Murdo Gordon, chief commercial officer, Bristol-Myers Squibb. “Through our work with Halozyme, we hope to improve the patient treatment experience by developing flexible and convenient treatment delivery options.”

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