Halozyme has withdrawn its €2 billion offer to buy biopharmaceutical services firm Evotec after multiple requests to meet and discuss a deal were turned down. Halozyme, known for its technology for delivering biologic drugs, had been conducting diligence on the proposal for months before publicly announcing it. Despite believing in the benefits of a merger between the two companies, Evotec showed no interest in engaging with Halozyme. Halozyme’s revenue comes from royalty payments for its Enhanze technology used by pharmaceutical companies like Roche and Eli Lilly. Evotec, which offers drug discovery and manufacturing services, remains focused on its standalone strategy and corporate restructuring.
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Halozyme Pulls €2B Acquisition Bid as Evotec Commits to Standalone Strategy
