Halozyme priced $1.3 billion of 1.50% convertible senior notes due 2033 on Thursday, September 17, 2026, up from the $1.05 billion originally announced. Interest is payable semi-annually, and the initial conversion rate of 7.1509 shares per $1,000 of principal equals about $139.84 per share. Halozyme plans to spend about $162.5 million on capped call transactions, about $217.0 million to repurchase $151.7 million of its 2027 notes, and about $435.5 million to repurchase $220.0 million of its 2028 notes, with the rest for general corporate purposes including potential acquisitions. Closing was expected on September 22, 2026. Halozyme's ENHANZE drug delivery technology is used in ten commercialized products and is licensed to companies including Roche, Takeda, Pfizer, Janssen, AbbVie, Eli Lilly, Bristol Myers Squibb, and argenx.
Alteogen (KOSDAQ: 196170) announced Wednesday September 2, 2026 an option and license agreement with Novartis (NYSE: NVS) for the development and commercialization of subcutaneous formulations of multiple Novartis products using Alteogen's ALT-B4 (berahyaluronidase alfa) enabled by the proprietary Hybrozyme technology. Terms: up to $3.22 billion in aggregate potential value including option exercise fees, development and commercial milestone payments, plus royalties on net sales. ALT-B4 temporarily depolymerizes hyaluronan in the extracellular matrix, enabling co-administered biologics to disperse and absorb subcutaneously rather than requiring intravenous infusion. The transaction is Alteogen's fourth Hybrozyme deal in 2026 following prior agreements with Merck KGaA, Sanofi, and one undisclosed global pharma. The technology approach mirrors Halozyme Therapeutics's ENHANZE platform (used in Roche's SC Herceptin, Rituxan, and Ocrevus, plus Bristol Myers Squibb's SC Opdivo and Johnson & Johnson's SC Darzalex), and the SC-conversion category has become an anchor commercial strategy for pharma companies looking to extend patent life and improve patient convenience on established IV biologics.