Halozyme to become 'leading drug delivery and specialty product company' after $960 million Antares buy

Shares in specialty pharmaceutical company Antares Pharma (Nasdaq: ATRS) were up by nearly half at lunchtime on Wednesday with the news that the firm is to be acquired by Halozyme Therapeutics (Nasdaq: HALO).

According to Halozyme, the transaction, which values Antares at approximately $960 million, will be immediately accretive to the company’s 2022 revenue and non-GAAP earnings and will to accelerate top- and bottom-line growth through 2027, with multiple growth drivers beyond 2027.

"The addition of Antares, particularly with its best-in-class auto injector platform and specialty commercial business, augments Halozyme's strategy"Halozyme's flagship innovation is its ENHANZE technology, a solution which can reduce hours-long treatments to a matter of minutes and has touched more than 600,000 patient lives in post-marketing use via five commercialized products across more than 100 global markets. The company licenses this tech to leading pharma and biotech companies including Roche (ROG: SIX), Pfizer (NYSE: PFE), AbbVie (NYSE: ABBV) and Eli Lilly (NYSE: LLY).