Sandoz Signs Agreement With Evotec SE To Acquire JEB SAS And Advance Continuous Manufacturing In Biosimilars

Sandoz, a global leader in affordable medicines, has entered into a strategic agreement with Evotec SE to acquire all issued and outstanding equity interests of Just-Evotec Biologics EU SAS (JEB SAS), including its Toulouse-based manufacturing facility. This acquisition supports Sandoz’s strategic goal to strengthen its position in the expanding biosimilars market, projected to reach approximately USD 300 billion over the next decade. The move will also provide Sandoz with in-house capabilities for biosimilar development and manufacturing using advanced continuous manufacturing technology.

Under the terms of the agreement, Sandoz will acquire 100% of JEB SAS and secure an indefinite technology license for JEB’s continuous manufacturing platform for an upfront cash consideration of around USD 350 million. The license applies to an unlimited number of molecules, with up to ten subject to royalty payments. The revised structure of the partnership includes new license fees and milestone-based payments, which could total about USD 300 million in the coming years, fully replacing previous contractual commitments between both companies.

This investment falls within Sandoz’s existing capital expenditure framework and will not impact its 2025 full-year financial guidance. The acquisition remains subject to customary closing conditions, including foreign direct investment (FDI) clearance from French authorities. Both parties anticipate completing the transaction in 2025, after which JEB SAS employees will transition to Sandoz.