On 4 November 2025, Sandoz and Evotec SE announced they have signed an agreement for Sandoz’s acquisition of 100% of Just-Evotec Biologics EU SAS (including its Toulouse manufacturing site), together with an indefinite technology licence to Evotec’s continuous manufacturing platform technology (J.POD). The transaction follows a non-binding term sheet signed by the companies in July 2025 relating to the potential acquisition.
Under the agreement, Sandoz will pay an upfront cash consideration of approximately USD 350 million. Sandoz will also pay additional upfront licence fees for Just Evotec’s continuous manufacturing technology for an indefinite number of molecules, up to 10 of which are royalty bearing. According to the companies, additional licence fees and development revenues, including success-based milestones, may add up to more than US 300 million over “the coming years”.
The transaction is expected to close in 2025, subject to meeting customary closing conditions, including foreign direct investment clearance by the French authorities. Upon closing, Just-Evotec Biologics employees will become part of Sandoz.
Sandoz and Just-Evotec have partnered in relation to the development and manufacturing of biosimilars since May 2023. That partnership was expanded in July 2024, with Sandoz securing long-term commercial supply access to Just-Evotec’s biosimilar manufacturing facility in Toulouse.