EVO - Evotec to acquire Central Glass Germany to bolster drug substance manufacturing
- Evotec ( NASDAQ: EVO ) ( OTCPK:EVOTF ) is acquiring Central Glass Germany from Japanese chemical manufacturing company Central Glass Co. to expands its clinical and commercial manufacturing platform for small molecule therapeutics.
- Germany-based Evotec said in an Aug. 25 press release that the contract was signed on Aug. 24 at a purchase price of €1.
- Evotec added it intends to invest in the coming years to establish the facility as a European center of excellence for rare disease drug substance manufacturing.
- Evotec said Central Glass will now operate as Evotec Drug Substance (Germany) GmbH (Evotec DS).
- Central Glass is located on a pharmaceutical manufacturing campus in Halle/Westphalia and has a team of ~60 chemical manufacturing experts.
- The transaction is expected to close on Nov. 1, subject to conditions.
- Evotec noted that earnings accretion is expected to be achieved by 2023/24.
- EVO +1.11% to $11.87 premarket Aug. 25
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Evotec to acquire Central Glass Germany to bolster drug substance manufacturing