Evotec Completes Sale of Toulouse Site to Sandoz for $350M, Plus Royalties on $90B Biosimilars Portfolio

Evotec has closed the sale of its Just-Evotec Biologics Toulouse site to Sandoz for approximately $350m in cash and upfront technology license fees. The agreement includes potential payments of over $650m, plus royalties on a portfolio of up to 10 biosimilar molecules with a combined originator net sales value of $90bn. The transaction is expected to be immediately earnings accretive and improve Evotec's revenue mix, profit margins, and capital efficiency.