- Sandoz signs non-binding term sheet to acquire Just–Evotec Biologics EU SAS for approximately USD 300 million
- The proposed acquisition would include J.POD biologics’ development and contract manufacturing facility in Toulouse, France
Sandoz, a global player in generic and biosimilar medicines, has signed a non-binding term sheet with Evotec SE to potentially acquire Just–Evotec Biologics EU SAS. The proposed deal, valued at around USD 300 million, includes the biologics development and manufacturing facility J.POD, located in Toulouse, France.
The acquisition would support Sandoz’s strategy to expand its biosimilar capabilities. If completed, the deal would see the Toulouse site integrated into Sandoz’s network to develop and manufacture biosimilars in-house. The facility features a high-throughput, fully automated continuous manufacturing platform.
Sandoz and Evotec SE will now begin formal negotiations and initiate necessary regulatory and employee consultation processes in France. The closing of the transaction remains subject to final contract terms and regulatory approvals.
“We aim to capitalize on the projected USD 300 billion biosimilar market opportunity over the next decade,” said Richard Saynor, CEO of Sandoz. “The intended acquisition is fully in line with our strategy to reinforce in-house biosimilar capabilities, while creating additional strategic flexibility.”
The proposed acquisition would build on an existing strategic relationship between Sandoz and Just–Evotec Biologics, established in 2023. Upon completion, employees at the Toulouse site would transfer to the Sandoz Group, further strengthening its internal expertise in biologics contract manufacturing.
