San Diego Business Journal

European Regulatory Opinion Boosts Halozyme Stock

Monday, March 25, 2013

Shares for San Diego-based biopharmaceutical company Halozyme Therapeutics Inc. rose more than 30 percent after the biopharmaceutical company announced that European regulators gave a positive opinion on one of the company’s drugs.

The company teamed with Baxter International Inc., a Deerfield, Ill.-based diversified health care company, to develop a drug called HyQvia that treats immunodeficiency disorders. It was granted a positive opinion by the European Medicines Agency’s Committee for Medicinal Products for Human Use.

If it receives marketing authorization from the European Commission, Halozyme and Baxter said they plan to launch HyQvia in some European Union countries later this year.

At market close on March 22, shares traded at $6.90, rising from $5.27 the day previous. The company’s market capitalization is about $775 million.

— SDBJ Staff Report