09:29 AM EDT, 10/24/2024 (MT Newswires) -- Halozyme Therapeutics ( HALO ) said Thursday that the European Patent Office revoked a Janssen Biotech co-formulation patent for Darzalex and SC.

The ruling does not affect Halozyme's composition of matter patents in the US and Europe for ENHANZE.

"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," Halozyme Chief Executive Helen Torley said.

An appeal by Janssen would suspend the decision, keeping the patent in effect until the case is finalized, Torley said.

Halozyme shares fell 1.6% in recent premarket activity.

Price: 50.01, Change: -0.79, Percent Change: -1.56