I never understood what Enhanze was going to do for Humira. My wife uses Humira every other week and it's just a simple SC injection. I don't see much value added by using Enhanze and it appears ABBV doesn't either. In any case, there are numerous Humira generics, the first of which just got approved by the FDA a few months ago, http://www.wsj.com/articles/fda-approves-amgens-biosimilar-version-of-humira-1474669560. I don't think this will be a $20 billion drug by 2020 unless Abbvie has really good patent lawyers. With or without Humira, HALO already has enough recurring Enhanze revenue to be profitable (less PEGPH20 development costs). But what I find most encouraging is Helen Torley said PEG stage 2 data may be delayed until 2017. Earlier this year she suggested that if stage 2 data is good enough, they may consider an early filing due to the significant unmet need with pancreatic cancer. Now I think this may be a distinct possibility.
"If all goes well, the deal could bring in a total of $130 million in milestone payments plus double-digit royalties of future sales."
Where is your quote from?
"Under the terms of the agreement, Halozyme will receive an initial $23 million payment, followed by milestone payments totaling approximately $130 million for each of up to nine collaboration targets. These payments are subject to AbbVie's achievement of specified development, regulatory and sales-based milestones. In addition, AbbVie will pay Halozyme tiered royalties if products under the collaboration are commercialized."
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