Sandoz has signed a non-binding term sheet with Evotec SE to potentially acquire Just–Evotec Biologics EU SAS, including its state-of-the-art J.POD biologics development and manufacturing facility in Toulouse, France. The proposed deal is valued at approximately USD 300 million.
The acquisition would significantly strengthen Sandoz’s in-house biosimilar capabilities and aligns with its strategy to capture a share of the projected USD 300 billion biosimilar market over the next decade.
“We aim to capitalize on this massive market opportunity,” said Richard Saynor, CEO of Sandoz. “The Toulouse site, powered by Just-Evotec Biologics’ fully automated and high-throughput platform, will help us scale efficiently, maintain quality, and control costs.”
The Toulouse facility would be dedicated to the development and production of Sandoz biosimilars, enhancing the company’s end-to-end capabilities. The platform’s continuous manufacturing technology is designed to improve speed and operational efficiency.
Sandoz and Evotec will now enter the next phase of negotiations, including legal contract finalization, regulatory approvals, and consultation with employee representatives in France. Completion of the deal remains subject to these conditions.
Just-Evotec Biologics has been a strategic partner to Sandoz since 2023. If the acquisition proceeds, all JEB employees would transition to Sandoz Group, supporting the company’s broader investments in European biosimilar operations.
Further transaction details will be disclosed once final agreements are signed.