MedCity News November 15, 2024
Halozyme’s offer comes as Evotec deals with several business setbacks and a languishing stock price. Earlier this year, Evotec implemented a cost-saving corporate restructuring.
Halozyme, a biotech firm whose drug delivery technology is a key component of biologic medicines marketed by several big pharma partners, aims to expand its offerings to these customers through the proposed €2 billion acquisition of drug discovery and development services provider Evotec.
San Diego-based Halozyme disclosed the unsolicited offer after Thursday’s market close. It comes as a private equity firm builds up its stake in Evotech, a company that has weathered several business setbacks in the past two years, reflected in a stock price that has moved on a mostly downward trajectory.
Hamburg, Germany-based Evotec...
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