Helen Torley on M&A rationale
From Halozyme CEO: Evotec Is Poised for Growth · · BloombergTechnology
“So why therefore buy a company that does drug discovery, does drug manufacturing? That's what Evotec does as well; it does it with drug discovery and they also have manufacturing where they want to be the manufacturer using a new process called continuous manufacturing that will deliver higher quality, lower cost for those same partners.”
On , Helen Torley, Former CEO at Halozyme, spoke about M&A rationale during Halozyme CEO: Evotec Is Poised for Growth on BloombergTechnology.
About Helen Torley
Helen Torley, CEO of Halozyme, discussed the company's intended acquisition of Evotec in a November 2024 interview on Bloomberg Technology. She described Halozyme as a San Diego-based biotech company with a drug delivery platform for subcutaneous injection, licensed to companies such as Roche, Bristol-Myers Squibb, and Janssen. Torley stated that the platform transforms intravenous therapies for cancer and autoimmune diseases into short injections, which she said can reduce the need for hospital visits. She reported that Halozyme expected revenues of about $1 billion and $600 million in EBITDA for the year. Torley characterized Evotec as a company involved in drug discovery and manufacturing using continuous manufacturing, which she said could deliver higher quality at lower cost. She noted that Evotec had faced recent headwinds and its stock had declined 59% over the year, but said that after conducting customer interviews, Halozyme believed those headwinds were past and that Evotec was "poised for growth." Torley said Halozyme had been working for two years to find an acquisition that met its criteria, and that Evotec fit in terms of revenue growth, pharmaceutical partner growth, and de-risked business. She added that the combined company would have over 500 partners and that growth would come from cross-selling platforms and attracting new partners.