Halozyme: The “Toll Operator” of the Biotech World

Cash flow instead of research risk: Thanks to a unique licensing model, Halozyme benefits from the successes of pharmaceutical giants without having to bear the billion-dollar risks of its own clinical trials. Growth at bargain prices: Despite a strong moat in the field of subcutaneous injections, the stock offers an exceptionally attractive entry opportunity into a medical megatrend with a P/E ratio of 12. While many biotech companies attempt the risky development of their own drugs, Halozyme took a different path early on, and it...