Sandoz Acquires Just-Evotec Biologics to Expand Biosimilars Capabilities

Sandoz Group AG has announced a strategic agreement to acquire Just-Evotec Biologics EU SAS, including its manufacturing site in Toulouse, as part of a move to bolster its in-house biosimilar capabilities. This acquisition aligns with Sandoz's strategy to exploit a projected USD 300 billion biosimilar market opportunity over the next decade.

The transaction entails a payment of approximately USD 350 million in cash and upfront license fees for Just-Evotec's continuous manufacturing technology. This investment secures Sandoz's control over its pipeline and aligns incentives between the parties, potentially including USD 300 million in success-based milestones. The deal is expected to close in 2025, pending customary conditions and regulatory approval in France.