Sandoz Group AG completes acquisition of Just‑Evotec Biologics EU SAS

Basel, 8 December 2025 – Sandoz Group AG (SIX: SDZ), the global leader in affordable medicines, announced the completion of its strategic acquisition of Just‑Evotec Biologics EU SAS (JEB SAS) from Evotec SE. The transaction adds the Toulouse development and manufacturing site and an indefinite licence to Evotec’s continuous‑manufacturing technology for biosimilars.

Strategic implications

  • Expansion of in‑house capabilities – The acquisition broadens Sandoz’s drug‑substance development and manufacturing portfolio, reinforcing its end‑to‑end biosimilar network across Europe.
  • Technology advantage – The perpetual licence to a cutting‑edge continuous‑manufacturing platform enhances production efficiency and positions Sandoz to capture the projected > US$ 300 billion biosimilar market opportunity associated with loss‑of‑exclusivity (LoE) events over the next decade.
  • Complement to existing investments – The move complements recent investments in Slovenia and aligns with Sandoz’s capital‑expenditure commitments. No impact on the 2025 full‑year guidance is expected.

Transaction details

  • Purchase consideration – Approximately US$ 350 million in cash, with upfront technology licence fees to Evotec.
  • Future revenue streams – Evotec will receive licence fees and development revenues, including success‑based milestones amounting to more than US$ 300 million over the coming years, covering royalties on a portfolio of up to ten biosimilars in technical and early development targeting over US$ 90 billion of originator net sales.

Market context

Sandoz’s move comes at a time when the biosimilar market is poised for accelerated growth, driven by increasing LoE opportunities and a global push for cost‑effective therapeutic alternatives. By integrating JEB SAS’s site and technology, Sandoz aims to solidify its leadership position and accelerate the availability of high‑quality biosimilars across key therapeutic areas, including oncology, diabetes, and arthritis.

The acquisition is fully compliant with regulatory approvals and all closing conditions have been satisfied, marking a significant milestone in Sandoz’s strategy to expand its biosimilar footprint and deliver affordable medicines worldwide.