Evotec SE and Sandoz AG to Potentially Sell Just – Evotec Biologics Toulouse Site

Evotec SE has entered into a non-binding agreement with Sandoz AG for the potential sale of the Just – Evotec Biologics site in Toulouse, France. The transaction is valued at approximately US$ 300 million in cash. The deal also includes technology-related considerations, future development revenues, milestones, and product royalties.

Under the terms, Sandoz would acquire full ownership of the site, while Evotec anticipates ongoing economic benefits through various financial mechanisms. This move aims to enhance Evotec's revenue mix, profit margins, and capital efficiency. The transaction's completion is subject to employee consultation, regulatory approvals, and final contractual agreements.