Sandoz to acquire Just-Evotec Biologics EU SAS in-house development, manufacturing capabilities in France
Basel: Sandoz has announced that it has signed a non-binding term sheet with Evotec SE. This paves the way for Sandoz to potentially acquire 100 percent of the issued and outstanding equity interests of Just–Evotec Biologics EU SAS for an amount of around USD 300 million, which owns the J.POD biologics development and manufacturing facility in Toulouse, France.
Richard Saynor, CEO of Sandoz, said, “We aim to capitalize on the projected USD 300 billion biosimilar market opportunity over the next decade. The intended acquisition is fully in line with our strategy to reinforce in-house biosimilar capabilities, while creating additional strategic flexibility. Following successful completion, the Toulouse site would be used to develop and manufacture Sandoz biosimilars. JEB´s fully automated and high throughput technology platform will help us move faster, scale smarter, and maintain high quality while keeping costs under control.”
Sandoz and Evotec SE will now work to negotiate details of the contracts and carry out the relevant works-council consultation processes, as well as the mandatory employee bid process in France. Closing the proposed transaction will be subject to finalizing the contracts and obtaining all necessary approvals. Further details of the terms cannot be shared at this stage and will only be disclosed after successful signing of the contracts.
Just-Evotec Biologics has been a key strategic partner for Sandoz since 2023. The proposed acquisition would complement previously announced investments in Sandoz biosimilar manufacturing and development sites.
Upon completion of the proposed transaction, JEB employees would transfer with the acquired entity and would become part of the Sandoz Group. JEB brings an advanced and integrated continuous manufacturing platform with automation that enables manufacturing to run continuously end-to-end.
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