Sandoz completes strategic acquisition of Just-Evotec Biologics EU SAS, asserting biosimilars leadership

• Expands in-house development and manufacturing capabilities for biosimilars, consolidating position as undisputed leader in the sector
• Strengthens position to capture projected >USD 300 billion biosimilars Loss of Exclusivity (LoE) market opportunity over the next decade¹
• Acquisition includes Just-Evotec Biologics EU SAS site in Toulouse and indefinite licence to cutting-edge continuous-manufacturing technology
• Complements ongoing investments in Slovenia, building end-to-end in-house biosimilar development and manufacturing network across Europe
• Fully aligned with existing capital-expenditure commitments; no impact on 2025 full-year guidance

Basel, December 8, 2025 – Sandoz (SIX:SDZ/OTCQX:SDZNY), the global leader in affordable medicines, today announced the completion of the acquisition of Just-Evotec Biologics EU SAS (JEB SAS) from Evotec SE. The deal includes the Toulouse development and manufacturing site and an indefinite licence to cutting-edge continuous-manufacturing technology for biosimilars.

This milestone fully aligns with the Sandoz biosimilar strategy, expanding in-house drug substance development and manufacturing capabilities and leveraging continuous-manufacturing technology to boost efficiency and scalability. It further positions Sandoz to capitalize on the projected >USD 300 billion global biosimilars LoE market over the next decade¹.

Richard Saynor, CEO of Sandoz, said: “Biosimilars are the fastest-growing segment of our pipeline as the need of patients and healthcare systems for these critical medicines continues to grow rapidly. This acquisition is a pivotal step toward advancing our ambition to consolidate our position as the undisputed leader in biosimilars. It gives us greater control over our pipeline development and underscores our unwavering commitment to expanding access to high-quality, affordable biologics for millions of patients worldwide.”

The fully automated, high-throughput continuous-manufacturing platform represents a transformative leap in biosimilar production. Sandoz has secured an indefinite license to this cutting-edge technology, which enhances operational efficiency, ensures flexibility and enables cost-effective scalability.

The acquisition complements ongoing investments in Slovenia, reinforcing the Sandoz strategy to build a robust, end-to-end in-house biosimilars network across Europe. By co-locating drug-substance development and manufacturing capabilities and leveraging cutting-edge continuous-manufacturing technology, Sandoz creates operational synergies that support its leadership position in this rapidly growing market. The Slovenian site will focus on large-scale fed-batch drug substance manufacturing, while the Toulouse site will specialize in small-scale continuous manufacturing. 

The transaction is in line with existing capital-expenditure commitments and does not impact 2025 guidance. Effective from today, all JEB SAS employees have joined Sandoz.

About Sandoz agreement with JEB

In May 2023, Sandoz and JEB announced a strategic partnership that supported Sandoz portfolio expansion and continued development of its early-stage biosimilar pipeline, by providing access to JEB’s continuous-manufacturing technology platform. The proprietary fully automated and high-throughput technology platform was a strategic addition to Sandoz integrated drug-substance development and manufacturing network.

In July 2024, Sandoz secured long-term commercial supply access to JEB’s biosimilar manufacturing facility in Toulouse, along with additional capacity for drug substance development.

On July 30, 2025, Sandoz signed a non-binding term-sheet to acquire JEB’s biosimilars manufacturing facility in Toulouse, including an indefinite license to continuous-manufacturing technology.

On November 4, 2025, Sandoz announced the signing of an agreement with Evotec SE to acquire all issued and outstanding equity interests of JEB SAS, which includes the Toulouse manufacturing site and an indefinite licence to the continuous-manufacturing technology.
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DISCLAIMER

This Media Release contains forward-looking statements, which offer no guarantee with regard to future performance. These statements are made on the basis of management’s views and assumptions regarding future events and business performance at the time the statements are made. They are subject to risks and uncertainties including, but not confined to, future global economic conditions, exchange rates, legal provisions, market conditions, activities by competitors and other factors outside of the control of Sandoz. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. Each forward-looking statement speaks only as of the date of the particular statement, and Sandoz undertakes no obligation to publicly revise any forward-looking statements, except as required by law.

REFERENCES

¹ Based on March 2025 data from IPD Analytics Evaluate Pharma, covering the period 2026–2035.

ABOUT SANDOZ

Sandoz (SIX: SDZ; OTCQX: SDZNY) is the global leader in affordable medicines, with a growth strategy driven by its Purpose: pioneering access for patients. More than 20,000 people of 100 nationalities work together to ensure 900 million patient treatments are provided by Sandoz, generating substantial global healthcare savings and an even larger social impact. Its leading portfolio of approximately 1,300 products addresses diseases from the common cold to cancer. Headquartered in Basel, Switzerland, Sandoz traces its heritage back to 1886. Its history of breakthroughs includes Calcium Sandoz in 1929, the world’s first oral penicillin in 1951, and the world’s first biosimilar in 2006. In 2024, Sandoz recorded net sales of USD 10.4 billion.  

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