Halozyme provides update following EPO decision to revoke Darzalex patent

Halozyme (HALO) provided an update following a decision by the Opposition Division of the European Patent Office, or EPO, to revoke one of the Janssen Biotech (JNJ) co-formulation patents for Darzalex SC. “We remain confident in our strong royalty revenue projections with 8 approved partner products on the market today, which is expected to reach 10 by 2025. The EPO decision on a single co-formulation patent in Europe has no impact on our 2024 royalty revenue projections and expectations to exceed $1 billion in royalty revenues in 2027. We also project no impact on our U.S. or European royalty revenues on sales of DARZALEX FASPRO and SC through 2032. Additionally, this decision has no impact on the ability of any other Halozyme licensee to obtain co-formulation patents for their innovations,” said Helen Torley, president and chief executive officer. “While we are disappointed with the EPO’s decision today, if Janssen files an appeal in the case, today’s decision would be suspended and the patent would remain in force until the case is finally decided,” Torley concluded.