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Halozyme (HALO) Inks Collaboration Deal With Chugai Pharma
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Halozyme Therapeutics (HALO - Free Report) and Japan-based Chugai Pharmaceutical entered into a global collaboration and license agreement for developing a Chugai drug candidate using Halozyme's ENHANZE drug delivery technology.
Per the agreement, Chugai will gain exclusive access to the ENHANZE technology for developing a subcutaneous formulation of a pipeline candidate. Chugai has not disclosed the target yet. In exchange, Halozyme will receive an upfront payment of $25 million and up to $160 million in milestone payments. Halozyme is entitled to receive royalties on potential sales of the candidate developed under the agreement.
Shares of Halozyme have declined 3.7% so far this year compared with the industry’s decrease of 13.7%.
Image Source: Zacks Investment Research
Halozyme’s promising ENHANZE drug-delivery technology has attracted several partners who are developing a subcutaneous formulation of their pipeline candidate or commercialized drugs. Following this agreement, Chugai will be the company’s twelfth global collaboration and license partner. Halozyme’s partners have more than 60 therapeutic targets under development in aggregate. There are five-partnered drugs that are commercialized and generating royalties for Halozyme.
Key partnered drugs include the subcutaneous formulation of J&J’s (JNJ - Free Report) Darzalex and Roche’s (RHHBY - Free Report) Phesgo.
Halozyme's royalty revenues almost doubled year over year to $62.6 million in the fourth quarter of 2021, mainly driven by strong sales uptake of J&J’s subcutaneous Darzalex and to a lesser extent by Roche’s Phesgo. Robust demand for J&J’s subcutaneous Darzalex, multiple label expansions and continued launches in new territories along with an additional contribution from Roche’s Phesgo are likely to drive Halozyme’s strong royalty revenues going forward.
Last year, Halozyme and ViiV Healthcare, a joint venture between Pfizer and GlaxoSmithKline (GSK - Free Report) for HIV therapies, signed a global collaboration and license agreement. Under this agreement, Pfizer and Glaxo’s ViiV Healthcare will develop a subcutaneous formulation of its ultra-long-acting medicines (drugs with dosing intervals of three months or longer) for treating HIV.
Halozyme received an upfront payment of $40 million and will receive up to $175 million per target in milestone payment from Pfizer and Glaxo’s joint venture.
Image: Bigstock
Halozyme (HALO) Inks Collaboration Deal With Chugai Pharma
Halozyme Therapeutics (HALO - Free Report) and Japan-based Chugai Pharmaceutical entered into a global collaboration and license agreement for developing a Chugai drug candidate using Halozyme's ENHANZE drug delivery technology.
Per the agreement, Chugai will gain exclusive access to the ENHANZE technology for developing a subcutaneous formulation of a pipeline candidate. Chugai has not disclosed the target yet. In exchange, Halozyme will receive an upfront payment of $25 million and up to $160 million in milestone payments. Halozyme is entitled to receive royalties on potential sales of the candidate developed under the agreement.
Shares of Halozyme have declined 3.7% so far this year compared with the industry’s decrease of 13.7%.
Image Source: Zacks Investment Research
Halozyme’s promising ENHANZE drug-delivery technology has attracted several partners who are developing a subcutaneous formulation of their pipeline candidate or commercialized drugs. Following this agreement, Chugai will be the company’s twelfth global collaboration and license partner. Halozyme’s partners have more than 60 therapeutic targets under development in aggregate. There are five-partnered drugs that are commercialized and generating royalties for Halozyme.
Key partnered drugs include the subcutaneous formulation of J&J’s (JNJ - Free Report) Darzalex and Roche’s (RHHBY - Free Report) Phesgo.
Halozyme's royalty revenues almost doubled year over year to $62.6 million in the fourth quarter of 2021, mainly driven by strong sales uptake of J&J’s subcutaneous Darzalex and to a lesser extent by Roche’s Phesgo. Robust demand for J&J’s subcutaneous Darzalex, multiple label expansions and continued launches in new territories along with an additional contribution from Roche’s Phesgo are likely to drive Halozyme’s strong royalty revenues going forward.
Last year, Halozyme and ViiV Healthcare, a joint venture between Pfizer and GlaxoSmithKline (GSK - Free Report) for HIV therapies, signed a global collaboration and license agreement. Under this agreement, Pfizer and Glaxo’s ViiV Healthcare will develop a subcutaneous formulation of its ultra-long-acting medicines (drugs with dosing intervals of three months or longer) for treating HIV.
Halozyme received an upfront payment of $40 million and will receive up to $175 million per target in milestone payment from Pfizer and Glaxo’s joint venture.
Halozyme Therapeutics, Inc. Price
Halozyme Therapeutics, Inc. price | Halozyme Therapeutics, Inc. Quote
Zacks Rank
Halozyme currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.