H.C. Wainwright reiterates Halozyme stock rating on Takeda trial data

H.C. Wainwright reiterated a Buy rating and $130 price target for Halozyme Therapeutics (HALO) after FDA approved Roche's cancer treatment using Halozyme's technology. HALO trades at $111.08, with 17% upside to the target. The approval offers a 12-month adjuvant royalty opportunity for Halozyme, though the addressable population is relatively small. Halozyme also won a patent case against Merck and completed a $1.5B convertible notes offering.

Halozyme won a Dutch court order blocking Merck's injectable Keytruda in 8 European markets, citing patent infringement. Merck disputes the decision and is evaluating next steps. Halozyme also sued Merck in the US and Germany, where a preliminary injunction was granted.

Roche, Novartis, Pfizer, and Eli Lilly received FDA approvals for their drugs. Lupin and Lipocine also gained regulatory nods. Caribou Biosciences plans to cut workforce and discontinue programs. Several biopharma companies announced deals and partnerships. Stock prices for mentioned companies varied.

A Dutch court blocked Merck from producing and selling its subcutaneous Keytruda formulation in 8 European countries, ruling it infringes a Halozyme Therapeutics patent. Merck argued the patent is invalid, but the court rejected this. The decision follows a similar ruling in Germany. Merck's intravenous Keytruda remains unaffected, generating $7.9 billion in Q2, while the subcutaneous version contributed $463 million.

Halozyme won a Dutch court order against Merck, halting the sale and production of Keytruda SC in eight European markets. The ruling found Merck infringed Halozyme's patent for under-the-skin drug delivery. Merck plans to evaluate next steps and disputes the decision. Halozyme has also sued Merck in the U.S. and Germany.

Halozyme Therapeutics won a court order blocking Merck from manufacturing and distributing a formulation of its cancer drug, Keytruda SC, in several European markets. The Dutch patent court ruled Merck infringed Halozyme's patent, following a similar injunction in Germany. Merck disputes the ruling and plans to appeal.