Halozyme weighing buyout of drugmaker Evotec, Bloomberg News reports

Reuters
15 Nov 2024
Halozyme weighing buyout of drugmaker Evotec, Bloomberg News reports

Nov 14 (Reuters) - German drugmaker Evotec EVTG.DE is attracting takeover interest from U.S.-based Halozyme Therapeutics HALO.O, Bloomberg News reported on Thursday.

Halozyme has recently expressed interest in acquiring Evotec at about 11 euros per share, the report added, citing people familiar with the matter.

Earlier this week private equity firm Triton was also reportedly exploring a potential buyout of Evotec, after it confirmed a close to 10% stake in the company.

Evotec's other major shareholders are Novo Nordisk NOVOb.CO parent Novo Holdings and Mubadala Investment.

Evotec's shares have fallen about 60% this year as revenues continue to slump due to weakness in the clinical research organization business market environment.

The company collaborates with biotech companies through research alliances and development partnerships to help with drug development.

(Reporting by Christy Santhosh in Bengaluru; Editing by Shailesh Kuber)

((Christy.Santhosh@thomsonreuters.com;))

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