Evotec, Sandoz in Potential Sale of Evotec’s EU Continuous Biomanufacturing Unit
Evotec and Sandoz have signed a non-binding term sheet on the planned sale of Just–Evotec Biologics EU, Evotec’s continuous biomanufacturing unit in Toulouse, France, to Sandoz for approximately $300 million.
Under the proposed deal, Evotec would transfer biosimilar manufacturing capabilities to enable Sandoz to produce biosimilar medicines using Just—Evotec Biologics’ advanced continuous manufacturing technology. The deal terms include the purchase price of the site for around $300 million in cash, and in addition, will include further technology-related consideration, future development revenues, milestones, and product royalties.
Just–Evotec Biologics has been a strategic partner for Sandoz since 2023. The proposed acquisition would complement previously announced investments in Sandoz biosimilar manufacturing and development sites. The planned investment would be in line with existing Sandoz capital-expenditure commitments related to Sandoz operations in Europe.
Upon completion of the proposed transaction, Just–Evotec Biologics employees would transfer with the acquired entity and would become part of the Sandoz Group.
In May 2023, Sandoz and Just–Evotec Biologics EU announced a strategic partnership that supports the company’s portfolio expansion and continued development of its early-stage biosimilar pipeline by providing access to Just–Evotec Biologics drug-substance development platform. The proprietary fully automated and high-throughput technology platform allows Sandoz to continue to build out its own integrated drug-substance development and manufacturing network.
Just–Evotec Biologics is also developing an integrated continuous manufacturing platform with automation that enables the manufacturing process to run continuously end-to-end, resulting in enhanced efficiency and cost-effectiveness.
In July 2024, Sandoz secured long-term commercial supply access to Just–Evotec Biologics biosimilars manufacturing facility in Toulouse, France. In addition, Sandoz secured resource capacity for drug-substance development of additional molecules starting in 2025. Just–Evotec Biologics will also enable the implementation of its design capability and continuous manufacturing technology at Sandoz.
