Halozyme Therapeutics’ Acquisition of Antares Pharma

Weil, Gotshal & Manges advised Halozyme, while Skadden, Arps, Slate, Meagher & Flom advised Antares Pharma on the deal. Fried Frank acted as counsel to BofA Securities as financial advisor to Halozyme Therapeutics.

Halozyme Therapeutics, Inc. (NASDAQ: HALO) (“Halozyme”) and Antares Pharma, Inc. (NASDAQ: ATRS) (“Antares”) have entered into a definitive agreement pursuant to which Halozyme will acquire Antares for $5.60 per share in cash. The transaction, which values Antares at approximately $960 million, was unanimously approved by both the Halozyme and Antares Boards of Directors. The transaction closed on May 24, 2022.

Halozyme is a biopharmaceutical company bringing disruptive solutions to significantly improve patient experiences and outcomes for emerging and established therapies. Halozyme advises and supports its biopharmaceutical partners in key aspects of new drug development with the goal of improving patients’ lives while helping its partners achieve global commercial success. 

Antares Pharma, Inc. is a specialty pharmaceutical company focused primarily on the development and commercialization of pharmaceutical products and technologies that address patient needs in targeted therapeutic areas. 

BofA Securities and Wells Fargo Securities LLC acted as financial advisors to Halozyme. Jefferies LLC acted as financial advisor to Antares.

The Skadden team was led by M&A partners Graham Robinson (Picture; Boston) and Faiz Ahmad (Wilmington), and associates Marissa Leonce (Boston), Julianne Weidman (Wilmington), Imran Malek (Boston) and Liz Robbins (Wilmington); Intellectual Property partner Resa Schlossberg (New York); Executive Compensation and Benefits counsel Timothy F. Nelson (Boston); Health Care Enforcement and Regulation partner Maya Florence (Boston); Tax partner Moshe Spinowitz (Boston); Labor and Employment partner Karen Corman (Los Angeles); Real Estate partner Audrey Sokoloff (New York); Banking partner Janine Jjingo (New York); and Antitrust/Competition partner Maria Raptis (New York).

The Fried Frank team was led by corporate partner Roy Tannenbaum and included corporate partner Philip Richter and corporate associate Nate Goldfinger.

The Weil team advising Halozyme Therapeutics, Inc. was led by Mergers & Acquisitions partner Michael J. Aiello and included Mergers & Acquisitions partner Sachin Kohli and Mergers & Acquisitions associates Robert Sevalrud, Daniel Sotsky, Ting Liu, Amanda Kadish (Not Yet Admitted in New York) and Daniel Ruzi (Not Yet Admitted in New York). The team also included Tax partner Graham Magill; Tax associate Musa Jemal; Executive Compensation & Benefits Head Paul Wessel; Executive Compensation & Benefits associate Manleen Singh (Admitted in Illinois Only); Technology & IP Transactions Co-Head Jeffrey Osterman; Technology & IP Transactions/Privacy counsel Olivia Greer; Technology & IP Transactions/Privacy associates Rami Sherman, Dominic Farchione, Jeeyoon Chung (Not Yet Admitted in New York), Shannon Coffey and Tamsin Kantor (Not Yet Admitted in New York); Global Finance Head Daniel Dokos; Banking & Finance associate Amrita Mukherjee; Real Estate associates Simon Heimowitz and Alexa King (Not Yet Admitted in New York); Regulatory Transactions counsel John O’Loughlin; Regulatory Transactions associate Christina Carone (Admitted in New York Only); Antitrust partner John Scribner; Antitrust counsel Michael Naughton; Antitrust associate Jarui Wang; Patent Litigation and Life Sciences Co-Head Elizabeth Weiswasser; Patent Litigation associates Ian Moore and Rocco Recce (Not Yet Admitted in New York); Employment Litigation Head John P. Barry; Employment Litigation counsel Rebecca Sivitz; Employment Litigation associate Omar Abdel-Hamid (Not Yet Admitted in New York); Securities Litigation counsel Stefania Venezia; and White Collar Defense, Regulatory and Investigations counsel Eileen Citron.

Involved fees earner: Nathaniel Goldfinger – Fried Frank Harris Shriver & Jacobson; Philip Richter – Fried Frank Harris Shriver & Jacobson; Roy Tannenbaum – Fried Frank Harris Shriver & Jacobson; Faiz Ahmad – Skadden; Karen Corman – Skadden; Maya Florence – Skadden; Janine Jjingo – Skadden; Marissa Leonce – Skadden; Imran Malek – Skadden; Timothy Nelson – Skadden; Maria Raptis – Skadden; Liz Robbins – Skadden; Graham Robinson – Skadden; Resa Schlossberg – Skadden; Audrey Sokoloff – Skadden; Moshe Spinowitz – Skadden; Julianne Weidman – Skadden; Michael Aiello – Weil, Gotshal & Manges; Eileen Citron – Weil, Gotshal & Manges; Shannon Coffey – Weil, Gotshal & Manges; Daniel Dokos – Weil, Gotshal & Manges; Dominic Farchione – Weil, Gotshal & Manges; Olivia Greer – Weil, Gotshal & Manges; Simon Heimowitz – Weil, Gotshal & Manges; Musa Jemal – Weil, Gotshal & Manges; Sachin Kohli – Weil, Gotshal & Manges; Ting Liu – Weil, Gotshal & Manges; Graham Magill – Weil, Gotshal & Manges; Ian Moore – Weil, Gotshal & Manges; Amrita Mukherjee – Weil, Gotshal & Manges; Michael Naughton – Weil, Gotshal & Manges; John O’Loughlin – Weil, Gotshal & Manges; Jeffrey Osterman – Weil, Gotshal & Manges; John Scribner – Weil, Gotshal & Manges; Robert Sevalrud – Weil, Gotshal & Manges; Rami Sherman – Weil, Gotshal & Manges; Rebecca Sivitz – Weil, Gotshal & Manges; Daniel Sotsky – Weil, Gotshal & Manges; Stefania Venezia – Weil, Gotshal & Manges; Jarui Wang – Weil, Gotshal & Manges; Elizabeth Weiswasser – Weil, Gotshal & Manges; Paul Wessel – Weil, Gotshal & Manges;

Law Firms: Fried Frank Harris Shriver & Jacobson; Skadden; Weil, Gotshal & Manges;

Clients: Antares Pharma; Bank of America Securities; Halozyme Therapeutics;