pharmaphorum November 25, 2024
US biotech Halozyme Therapeutics has withdrawn its offer to acquire Evotec, saying that the German company had been “unwilling to engage with us to explore a potential combination.”
Halozyme made the €11-per-share offer earlier this month, valuing Evotec at around €2 billion ($2.1 billion), saying at the time that combining its drug delivery technology business with Evotec’s portfolio of drug discovery and development services would make a powerful combination.
According to Halozyme’s chief executive, Helen Torley, joining the two businesses would “diversify and extend Halozyme revenue and [earnings] growth and durability well into the next decade and beyond.”
It seems Evotec’s management was not on board with that notion, however, and said publicly the company’s strategy is to remain independent,...
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