Categories: Business

Antares Pharma Stock Soars After $960 Million Halozyme Buyout

[ad_1]

Text size

Nasdaq-listed Antares Pharma is being bought by Halozyme Therapeutics in a deal valued at $960 million.


Michael Nagle/Bloomberg

Shares of




Antares Pharma

surged 49% Wednesday after the specialty pharmaceutical company agreed to be bought by




Halozyme Therapeutics

 in a cash deal valued at $960 million.

Under terms of the deal, Halozyme (ticker: HALO) will pay $5.60 a share to buy Antares (ATRS), the company said in a statement. That represents a 49.7% premium to Tuesday’s closing price of $3.74.

Antares stock, which has risen 4.76% in the year to date, rose more than 49% in premarket trading to $5.58.

Halozyme said that it expects the deal, which is expected to close in the first half of 2022, to immediately add to 2022 revenue and adjusted earnings per share, and accelerate revenue and earnings growth through 2027. 

“The addition of Antares, particularly with its best-in-class auto injector platform and specialty commercial business, augments Halozyme’s strategy, further strengthens our position as a leading drug delivery company and extends our strategy to include specialty products,” said Helen Torley, Halozyme chief executive.

Write to Lina Saigol at lina.saigol@dowjones.com

[ad_2]
Source link
Admin

Recent Posts

Often the Evolution of Tumi123 Games Experience

Hey there, fellow games enthusiasts! Have you ever wondered just how your favorite gaming platform,…

1 day ago

Top Benefits of Choosing Epoxy Flooring for Homes and Businesses in Rockford, IL

When it comes to durable, stylish, and cost-effective flooring solutions, epoxy flooring stands out as…

2 days ago

Studying the World of Kenzo188 Games

Hi there, fellow gaming enthusiasts! Regardless of whether you're a seasoned player or perhaps dipping…

3 days ago

Affordable Furniture Shopping in Fort Worth

Hey there, furniture lovers of Fort Worth! Whether you're setting up a new home or…

4 days ago

Syracuse Guide To Socializating Your Dog

You have probably heard about the importance of socializing a dog after getting a puppy.…

4 days ago

Styling Your Space with Vintage Vanity Trays

Hey there, vintage lovers! Are you looking to add a touch of elegance and personality…

4 days ago