Halozyme Therapeutics Inc. has withdrawn its non-binding proposal to acquire Evotec SE. 
 
Helen Torley, president and CEO of Halozyme, stated, “We continue to believe that a combination of Halozyme and Evotec would create a leading, differentiated, global pharma services company, benefitting shareholders, patients and employees. However, to date, Evotec has been unwilling to engage with us to explore a potential combination and a company spokesperson has publicly commented that its goal is to remain an independent company. As a result, we are withdrawing our proposal to acquire Evotec for €11.00 per share in cash.”
 
Despite extensive due diligence and multiple attempts to engage with Evotec’s leadership, Halozyme was unable to initiate substantive discussions about a potential merger. Still, the U.S. biotech company remains optimistic about its standalone prospects, projecting significant revenue and EBITDA growth in the coming years.
 
“We reiterate our recently raised 2024 guidance for revenue of $970-$1,020 million and adjusted EBITDA of $595-$625 million, representing significant double-digit growth, as we maintain strong momentum entering 2025,” Torley added.

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