Published on 14 Apr 2022 on Zacks via Yahoo Finance

Halozyme (HALO) to Acquire Antares for Auto Injector Platform

Halozyme Therapeutics HALO announced that it has entered into a definitive agreement with Antares Pharma ATRS to acquire the latter for approximately $960 million. The acquisition will add Antares’ commercial portfolio as well as its auto injector drug delivery technology to Halozyme’s portfolio. The auto injector platform will likely complement Halozyme’s ENHANZE technology used for developing subcutaneous injections.

Halozyme has offered to acquire all the outstanding shares of Antares for $5.60 per share in cash. The company intends to fund the acquisition through cash at hand as well as through new debt sources.

The acquisition is expected to be completed in the first half of 2022. Halozyme stated that the acquisition will be accretive immediately to revenues as well as adjusted net income. However, the company maintained its previous guidance of $530 million to $560 million for revenues in 2022.