Sandoz, a global leader in generic and biosimilar medicines, has signed a non-binding term sheet with Evotec SE to potentially acquire 100% of Just–Evotec Biologics EU SAS (JEB), including its biologics development and manufacturing facility (J.POD) in Toulouse, France. The proposed transaction is valued at approximately US$ 300 million.

Richard Saynor, CEO of Sandoz, said: “We’re aiming to seize the projected USD 300 billion biosimilar market opportunity over the next decade. Acquiring this site strengthens our in-house capabilities and adds strategic flexibility. JEB’s fully automated and high-throughput technology will allow us to move faster, scale efficiently, and maintain quality while keeping costs under control.”

The companies will now begin detailed contract negotiations and proceed with necessary consultations and approval processes in France. Finalization of the deal will depend on the successful completion of these steps. No further deal terms will be shared until a definitive agreement is signed.

JEB has been a strategic partner for Sandoz since 2023. This potential acquisition complements Sandoz’s recent investments in biosimilar development and manufacturing across Europe. The Toulouse facility would become an integral part of Sandoz’s global biosimilars network, and JEB employees would join the Sandoz Group after the transaction closes.

JEB brings a cutting-edge, continuous manufacturing platform that enhances efficiency through full automation - from start to finish.

In May 2023, Sandoz and JEB partnered to support early-stage biosimilar pipeline development using JEB’s advanced drug substance platform. This platform is now central to Sandoz’s strategy to build a fully integrated manufacturing network.

In July 2024, Sandoz secured long-term access to JEB’s Toulouse site for commercial supply and development of future biosimilar molecules, with the integration of JEB’s continuous manufacturing technology also underway.