Evotec SE has signed a non-binding term sheet with Sandoz AG for the potential sale of Just – Evotec Biologics EU, including a manufacturing facility in France. The deal aims to transfer biosimilar manufacturing capabilities to Sandoz using Evotec’s technology. The proposed transaction involves a $300 million cash sale of the site, technology license access, development revenues, milestones, and royalties. The Toulouse facility is fully dedicated to Sandoz since July 2024. The deal is expected to enhance Evotec’s revenue mix, profit margins, and capital efficiency. The transaction is subject to employee consultations, contractual agreements, and regulatory approvals.

Read more at Nasdaq: Evotec Accelerates Asset-Light Strategy With $300 Mln Biosimilars Deal To Sandoz