Evotec Finalizes Sale of Toulouse Site to Sandoz for $350 Million

Evotec SE has completed the sale of its Just – Evotec Biologics site in Toulouse to Sandoz AG. The agreement, initially announced in July and formalized in November, includes $350 million in cash and grants Sandoz a license to Evotec's continuous manufacturing technology. Evotec stands to gain over $300 million from license fees and development revenues linked to the sale.

This transaction will allow Evotec to earn royalties from up to ten biosimilars under technical and early development, aimed at capturing over $90 billion in originator net sales. The sale is expected to immediately enhance Evotec's earnings and improve revenue mix, profit margins, and capital efficiency.

Dr. Christian Wojczewski, CEO of Evotec, highlighted this sale as a significant move towards becoming a scalable technology provider. The sale aligns with Evotec's strategy of focusing on core strengths, promoting sustainable growth, and shifting to an asset-light business model.