The Hamburg-based pharmaceutical company is entering into a new partnership with Sandoz.
(Photo: dpa)
Munich The biotechnology company Evotec is teaming up with the pharmaceutical giant Sandoz in a lucrative partnership for the development and production of biosimilars. The US subsidiary of Evotec, Just – Evotec Biologics, will receive a double-digit million amount from the Novartis subsidiary in advance, as the company announced on Tuesday evening.
Depending on the progress of the development, 640 million dollars will be added gradually. If the entry into commercial production succeeds and Sandoz takes the option of producing the biosimilars itself using Evotec’s technology, further payments could be added.
Biosimilars are imitation drugs of biotechnologically manufactured preparations. The development of the biosimilars will start at Just’s facilities in the next 12 to 18 months, the statement said.
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