Sanofi about to sell know-how and R&D center to Evotec for €60m

Germany-based Evotec and its French competitor Sanofi yesterday announced they are in talks for an agreement to license to Evotec the know-how developed by Sanofi in infectious diseases. Sanofi’s package does not include any product currently marketed, while it does include R&D assets and 1,000 researchers employed at the company’s research center near Lyon, which will not be closed down, but sold to Evotec for €60m.  Evotec’s shares rose over 10% (Frankfurt) after the announcement.

(Source: Finanznet)