Evotec AG (Frankfurt Stock Exchange, Prime Standard, ISIN: DE 000 566480 9, WKN 566480) today announced that it has sold its Chemical Development Business to Aptuit, Inc., Greenwich, CT, US, for approximately EUR 46.4 m in cash. In 2006, this business generated EUR 26.8 m of third-party revenues (40% of total Group revenues).
Through the transaction Evotec will focus even more on its strategy to become an emerging pharmaceutical company providing higher value research solutions to its partners through collaborative research and partnering of preclinical and clinical programmes developed internally. The proceeds will allow Evotec to accelerate its proprietary CNS pipeline development.
2007 revenues for the continuing operations are expected to be in the range of EUR 30 - 35 m. This range includes milestone related payments which are expected to be triggered towards year end. The deal will contribute a non-operating profit of approximately GBP 17 m (approx. EUR 25 m) in Q4 2007 subject to the final closing of the books. Including the cash proceeds from this transaction, the targeted year-end cash position improves significantly to between EUR 93 m and EUR 98 m.
Contact: Anne Hennecke, SVP, Investor Relations & Corporate Communications, Evotec AG, Schnackenburgallee 114, 22525 Hamburg, Germany, Phone: +49.(0)40.560 81-286, email@example.com