Evotec presents plan targeting EUR 75 million in annual run-rate cost savings by end-2027
EVO•Evotec signed a deal to sell its Toulouse biologics site to Sandoz for approximately US$350 million upfront and targets approximately EUR 75 million in annual run-rate savings by end-2027. The plan includes approximately 800 job cuts and reduces its global footprint from 14 sites to 10.
1. Sale and restructuring plan
Evotec signed an agreement to sell its Toulouse biologics site to Sandoz for approximately US$350 million upfront, including technology licensing. The agreement includes more than US$300 million in license, milestone and development revenue commitments for 2026-2028, plus royalties on 10 biosimilars; six are in technical development. Evotec's Horizon restructuring targets approximately 800 job cuts and a reduction in its global footprint from 14 sites to 10, with approximately EUR 75 million in annual run-rate savings expected by end-2027 against approximately EUR 100 million in total cash costs.
