Sandoz to Acquire Evotec’s Biologics Unit for $300 Million Expansion

Switzerland-headquartered Sandoz (SWX: SDZ) announced that it has signed a non-binding term sheet with Germany’s Evotec SE to acquire the biologics development and manufacturing operations of Just–Evotec Biologics (JEB) in Toulouse, France, for approximately USD 300 million. The acquisition will integrate JEB’s advanced automation and high-throughput continuous manufacturing platforms into Sandoz’s biosimilar capabilities.

Strategic Rationale
This acquisition aims to position Sandoz to capitalize on the biosimilar market, which is projected to reach USD 300 billion over the next decade. Upon completion, JEB employees will transition to Sandoz, reinforcing the company’s commitment to this growing sector.

Prior Partnership and Future Integration
Sandoz and JEB have maintained a strategic partnership since May 2023. The acquisition will complement Sandoz’s existing investments in biosimilar manufacturing across Europe, enhancing its operational flexibility and self-sufficiency. The parties are proceeding with definitive agreement negotiations and requisite employee procedures in France, with the deal subject to regulatory approvals.-Fineline Info & Tech