Sandoz, a global pharma company specialising in affordable medicines, has announced that it has entered into a strategic agreement with Evotec to acquire Just-Evotec Biologics (JEB), including its biologics manufacturing facility in Toulouse, France.
Under the terms of the agreement, Sandoz will acquire 100% of JEB, along with an indefinite technology licence for JEB’s continuous manufacturing platform, for an upfront cash payment of approximately $350m. The licence covers an unlimited number of molecules, with up to ten eligible for royalty payments. Additional licence fees and development-related payments, including success-based milestones, could total a further $300m.
Christian Wojczewski, CEO of Evotec, said: “This is a transformative milestone for Evotec as we further leverage Just-Evotec Biologics’ capabilities and position the company as a scalable technology provider.
“With…this transaction, Evotec is delivering on its asset lighter strategy, sharpening its focus on its core strengths, and is well on track for sustainable and profitable growth.”
Sandoz and Evotec first entered a strategic partnership in 2023, under which JEB supported the expansion and development of Sandoz’s early-stage biosimilar pipeline. This collaboration aimed to enable Sandoz to build an integrated drug substance development and manufacturing network.
In 2024, the agreement was extended to provide Sandoz with long-term commercial supply access to JEB’s Toulouse site, as well as additional development capacity for new molecules beginning in 2025.
The transaction is expected to close by the end of 2025, subject to customary conditions, including foreign direct investment (FDI) clearance by the French government. Upon completion, all current JEB SAS employees will join Sandoz.
Linda Zuckerman, EVP and Global Head of Just-Evotec Biologics, said: “Sandoz’s acquisition of Just-Evotec Biologics’ Toulouse site is a powerful endorsement of our pioneering J.POD platform and its potential to revolutionise biologics manufacturing.
“This strategic transaction empowers Sandoz to leverage our advanced perfusion-based continuous manufacturing technology, progressing our shared mission to expand global access to affordable, high-quality biosimilars.”