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Halozyme expands drug delivery platform with strong royalty growth and new partnerships

Market News
06 May 2026
Seeking Alpha
View Source
Bullish
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Halozyme is transforming from a royalty-based business focused on ENHANZE technology into a broader subcutaneous drug delivery platform. The company reported a 52% increase in royalty revenue for fiscal year 2025, reaching $867.8 million, and projects 30-35% royalty growth with adjusted EBITDA between $1.125 billion and $1.205 billion for 2026. Recent acquisitions and partnerships with companies like Vertex and Takeda enhance its intellectual property and position Halozyme as a comprehensive biologic delivery solutions provider. Despite strong growth and high margins, Halozyme trades at a notable valuation discount, suggesting potential investment value.

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