Sandoz, a Switzerland-based developer of generic and biosimilar medicines, announced it has signed a non-binding term sheet to acquire Just-Evotec Biologics EU SAS from Evotec SE for approximately $300 million. The acquisition would include the J.POD biologics development and manufacturing site in Toulouse, France.
The proposed transaction is intended to enhance Sandoz’s in-house biosimilar development and manufacturing capabilities and support the company’s strategy to compete in the biosimilar market, which is projected to reach $300 billion over the next decade, according to March 2025 data from IPD Analytics Evaluate Pharma.
The J.POD site offers an integrated continuous manufacturing platform with automation designed to enable end-to-end production at scale. Sandoz said the facility would be used for the development and production of biosimilars, complementing its existing European operations and previously announced investments in biosimilar infrastructure.
Just-Evotec Biologics has partnered with Sandoz since 2023. Upon completion of the acquisition, JEB employees would join Sandoz Group as part of the transition. The company said it will begin negotiating detailed contracts, conduct France’s mandatory employee bid process, and consult relevant works councils before closing the deal.
No further terms will be disclosed until signing is finalized, according to the company.