Evotec Closed Its Previously Reported Sale Of The Just-evotec Biologics Toulouse Site Plus An Indefinite Technology License To Its Continuous Manufacturing Platform Technology To Sandoz, Potential Payments Of Over $650M Plus Royalties Of Up To 10 Biosimilar Molecules
Benzinga Newsdesk 11 months ago
M&AHealth CareGeneral
All closing requirements satisfied following announcement of a non-binding term-sheet agreement in July and signing of contract in NovemberAgreement includes approximately US$ 350 m in cash for Just - Evotec Biologics
- All closing requirements satisfied following announcement of a non-binding term-sheet agreement in July and signing of contract in November
- Agreement includes approximately US$ 350 m in cash for Just - Evotec Biologics manufacturing site in Toulouse and upfront technology license fees to Evotec's continuous manufacturing platform
- In addition, Evotec eligible for license fees, and development revenues including success-based milestones adding up to more than US$ 300 m over the coming years,replacing existing contractual commitments
- Transaction covering royalties on a portfolio ofup to ten biosimilars in technical and early development targetingmore than US$ 90 bn of originator net sales
- Sale immediately earnings accretive, improving Evotec's short, mid and long-term revenue mix, profit margins, and capital efficiency