Evotec AG (Frankfurt Stock Exchange, Prime Standard, ISIN: DE 000 566480 9, WKN 566480) today announced that the Company has signed a definitive agreement with PerkinElmer pursuant to which PerkinElmer will acquire Evotec Technologies GmbH, Hamburg, Germany, in a cash transaction valued at approximately EUR 23 million. Evotec Technologies is a majority owned subsidiary of Evotec AG. The transaction is subject to regulatory approvals and other customary closing conditions and closing is expected to occur late December 2006 or early 2007. Evotec Technologies will be deconsolidated from Evotec's group financial statements as of 01.01.2007.
This transaction is another milestone in Evotec's strategy to focus the Company on its core business - drug discovery and development. Together with the sale of single molecule detection technologies and patents to Olympus earlier in the year, the combined divestments value Evotec Technologies at approximately EUR 30 million. The cash proceeds will provide Evotec with additional flexibility to progress and expand its Central Nervous System pipeline.
Excluding Evotec Technologies' 2006 contribution of approximately EUR 16-18 million in sales and EUR 3 million in R&D expenses, the remaining Evotec Group 2006 revenues are projected to be approximately EUR 66 million and 2006 R&D expenses between EUR 30 and EUR 32 million. Evotec Technologies' operating income is anticipated to be almost break-even for the full-year 2006; consequently the transaction is expected to have only a minor impact on Evotec's 2006 pro-forma operating results. The consideration and other results of this transaction are expected to be reported in the first quarter of 2007.
Contact: Anne Hennecke, Director, Investor Relations & Corporate Communications, Evotec AG, Schnackenburgallee 114, 22525 Hamburg, Germany, Phone: +49.(0)40.560 81-286, email@example.com