Halozyme Therapeutics to acquire Antares Pharma in all cash deal

The transaction, which values Antares at $960 million, demonstrates Halozyme's commitment to drug delivery In a deal that will strengthen its emphasis on the delivery of drugs, Halozyme Therapeutics Inc. offered to acquire specialised biopharmaceutical business Antares Pharma Inc. for roughly 1 billion dollars. Halozyme released a Statement saying that it would pay $5.60 per share in cash for Antares, pricing the company at $960 million. The Wall Street Journal reported earlier in the day that the two corporations were close to reaching an agreement. Antares' stock rose over 50% in premarket trading on Wednesday. They were trading at $3.74 on Tuesday, giving Antares a market capitalization of $640 million. Antares, based in Ewing, New Jersey, specialises in injectable medications and offers a range of testosterone replacement therapy Based in San Diego Halozyme has a market capitalization of $5.7 billion. The transaction is the first significant step in Halozyme's plan to expand through merger or acquisition, which was prompted by the failure of a clinical trial for a pancreatic anticancer therapy in 2019. Enhanze, a drug-delivery product developed by Halozyme is an enzyme that allows hours-long intravenous drug treatments to be administered in minutes. Pfizer Inc. and Bristol-Myers Squibb Co. are among the companies that have licenced the technology. Antares' acquisition would allow the firm to expand its therapeutics network and diversify its offerings by adding speciality pharmaceuticals. While medicine is usually one of the busiest industries for mergers and acquisitions, activity has slowed dramatically this year. As per Dealogic, approximately $72 billion in medical mergers have been reported so far this year, down from $162 billion at the same time last year. Resulting from market instability, greater regulatory inspection, and concern emanating from Russia's incursion of Ukraine, global deal volumes across all sectors are down around 28% from last year.

Optimize Your trial insights with Clival Database.

Are you exhausted from the uncertainty of trial insights pricing? Clival Database ensures the clarity in the midst of the global scenario for clinical trials to you.

Clival Database is one of the best databases that offers an outstanding number of clinical trial data in terms of 50,000+ molecules and from primary regulatory markets as well as new entrants like Indian and Chinese markets.

With Clival, you get accurate positioning of historical sales data, patent database, company profiling, safety & efficacy, and prediction of launch of new innovative molecules helping you to align your research and driving down the cost.

To add value, we further break down our analytics for you so that improving your operational effectiveness; optimizing your clinical trials; and offering you accurate and high-quality data at lowest possible prices becomes possible.

Elevate your trial success rate with the cutting-edge insights from Clival database.

Check it out today and make more informed sourcing decisions! Learn More!