** Shares of biopharma co Halozyme Therapeutics HALO.O fall 4.5% to $47.98
** Morgan Stanley downgrades HALO's rating to "equal-weight" from "overweight"; cuts PT to $62 from $73
** The U.S. Centers for Medicare and Medicaid Services $(CMS)$ draft may impact HALO's drug pricing, posing a headwind for hyaluronidase products, brokerage says
** CMS said on Monday it would announce a list of 15 drugs eligible for a third round of Medicare price negotiations by early February next year
** HALO utilizes hyaluronidase enzymes to develop injectable versions of various drugs
** Brokerage says the draft guidance could sway industry incentives and pose a meaningful headwind for hyaluronidase combination products for HALO
** Halozyme has risen ~5% YTD, as of last close
(Reporting by Juby Babu in Mexico City)
((Juby.Babu@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.