Evotec finalizes $650M sale of Toulouse biologics site to Sandoz

The completed deal expands Sandoz’s biosimilar manufacturing footprint while enabling Evotec to transition toward a more asset-light, technology-driven business model.

Nov. 6, 2025

2 min read

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Evotec SE, a Germany–based life science company, announced it has finalized the sale of its Just – Evotec Biologics manufacturing site in Toulouse, France to Sandoz AG for a total consideration valued at more than $650 million in potential payments plus royalties. The agreement includes $350 million in cash for the site and an indefinite license for Sandoz to use Evotec’s continuous biologics manufacturing platform technology.

In addition to the upfront payment, Evotec said it is eligible for more than $300 million in license fees, development revenues, and success-based milestones over the coming years. The company also expects future royalties on a portfolio of up to 10 biosimilars in early development, targeting a combined originator market of more than $90 billion.

“This is a transformative milestone for Evotec as we further leverage Just – Evotec Biologics’ capabilities and position the company as a scalable technology provider,” Christian Wojczewski, CEO of Evotec, said in a statement. “With our unique offering, we are expanding the scope of addressable partners and shaping a new segment in the biologics manufacturing market in a very capital-efficient way.”

Linda Zuckerman, executive vice president and global head of Just – Evotec Biologics, added that the sale marks an endorsement of the company’s J.POD continuous manufacturing platform and its potential to “revolutionize biologics manufacturing.” She said the agreement allows Sandoz to utilize the perfusion-based technology to expand global access to biosimilars.

The transaction follows the companies’ announcement in July 2025 of a non-binding term sheet for the sale. That earlier proposal outlined plans for Sandoz to expand its in-house biosimilar development and manufacturing capabilities through the J.POD site in Toulouse.

Evotec said the closing of the transaction immediately strengthens its revenue mix, profit margins, and capital efficiency while advancing its strategy to become a technology-focused, asset-light business. Following the sale, Evotec will continue to support customers in the U.S. and Europe with biologics process development and GMP manufacturing services.

The company reaffirmed its 2025 financial guidance, projecting revenues between $876 million and $922 million.