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Evotec SE and Sandoz AG Planning Potential Sale of Just - Evotec Biologics Toulouse Site

1. Evotec signs a non-binding agreement with Sandoz for a $300 million sale. 2. Sandoz will gain full ownership of the Toulouse Biologics site. 3. Evotec retains revenue and royalty options from future developments. 4. The deal aims to boost Evotec's profit margins and capital efficiency. 5. Transaction closure depends on employee consultations and regulatory approvals.

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FAQ

Why Bullish?

The sale enhances Evotec's financial position, reminiscent of other biotech sales that improved company fundamentals, like the Gilead purchase of Kite Pharma.

How important is it?

The strategic sale and retained revenue streams can significantly impact revenue prospects, attracting investor interest.

Why Short Term?

Initial financial benefits from the sale can be realized soon, likely within the next quarter.

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SDZGILDKITE
Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, Prime Standard, ISIN: DE 000 566480 9, WKN 566480; NASDAQ:EVO) announces the signing of a non-binding agreement with Sandoz AG (SIX:SDZ)(OTCQX:SDZNY) regarding the potential sale of Just - Evotec Biologics EU in Toulouse, France, for a consideration of about US$ 300 m in cash. In addition, the planned transaction terms include further technology related consideration, future development revenues, milestones and product royalties.Under the proposed terms of the transaction, Sandoz would assume full ownership of the Just - Evotec Biologics Toulouse site, while Evotec would retain short-, mid-, and long-term economic upside through revenue, milestones and royalty optionality.The planned deal would immediately improve Evotec's revenue mix, profit margins, and capital efficiency. Closing of the planned transaction remains subject to the completion of the relevant information and consultation processes with its employees and their representatives, final contractual agreements and to meeting regulatory requirements.- End of the ad hoc release -Contact: Volker Braun, EVP Head of Global Investor Relations & ESG, Evotec SE, Manfred Eigen Campus, Essener Bogen 7, 22419 Hamburg, Germany, Phone: +49(0)151 1940 5058 (m), [email protected]SOURCEW: Evotec SE

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