- Sandoz has agreed to acquire all equity interests in Just-Evotec Biologics EU SAS (JEB SAS), including its Toulouse manufacturing site, for around USD 350 million.
- The acquisition includes an indefinite technology licence for continuous manufacturing and aims to close in 2025, pending regulatory clearance.
Sandoz has signed a strategic agreement with Evotec SE to acquire all issued and outstanding equity interests of Just-Evotec Biologics EU SAS (JEB SAS), which includes its biomanufacturing site in Toulouse, France. The move supports the company’s long-term biosimilar growth strategy and is valued at approximately USD 350 million in upfront cash consideration.
The deal grants Sandoz an indefinite technology licence for JEB’s continuous manufacturing platform, covering an unlimited number of molecules. Up to ten molecules will be subject to royalty payments. Additional success-based milestones could reach USD 300 million over the coming years, replacing all previous contractual commitments between the two firms.
This investment aligns with existing Sandoz capital-expenditure plans and will not affect its 2025 full-year guidance. Both companies have completed the required works-council consultations and the French employee bid process. The transaction is expected to close in 2025, subject to customary conditions including foreign direct investment clearance from French authorities. Following completion, JEB SAS employees will transfer to Sandoz.
Sandoz first entered a strategic partnership with JEB in May 2023 to support biosimilar development and manufacturing using continuous manufacturing technology. The proprietary platform enables automated, high-throughput production and will enhance Sandoz’s integrated drug-substance development and contract manufacturing capabilities.
