Halozyme Therapeutics Inc. (NASDAQ: HALO) said it projects zero to minimal impact on royalty revenue through at least 2035 following its analysis of a proposed Medicare Drug Price Negotiation Program rule released by the U.S. Centers for Medicare & Medicaid Services on June 12.

The San Diego-based biopharmaceutical company said the projection is based on the proposed rule for the program's implementation period starting in 2029. Chief Executive Officer Helen Torley said the company also expects no impact on its ability to execute new ENHANZE partnership agreements.

"Based on our analysis of CMS's proposed rule and the statutory framework established under the One Big Beautiful Bill Act, Halozyme projects zero to minimal impact to its royalty revenues through at least 2035," Torley said.

The company said its outlook is supported by statements in the proposed rule that confirm orphan drug protections remain applicable and address the impacts of biosimilar entry on program eligibility.

Halozyme develops drug delivery technology through its ENHANZE system, which uses the proprietary enzyme rHuPH20 to facilitate subcutaneous delivery of injected drugs. The technology has been incorporated into ten commercialized products across more than 100 global markets and is licensed to pharmaceutical companies including Roche, Takeda, Pfizer, Janssen, AbbVie, Eli Lilly and Bristol-Myers Squibb.

The company said it will continue to engage with CMS and other stakeholders regarding policies that recognize innovation and preserve patient access to therapies.