Evotec completes Aptuit acquisition

15-Aug-2017 - Last updated on 16-Aug-2017 at 15:35 GMT

Evotec entered into a definitive agreement to acquire Aptuit on July 30, 2017. (Image: iStock/daizuoxin)

Evotec has completed its previously announced acquisition of Aptuit and has updated its financial targets for the year.

As Outsourcing-Pharma.com reported, the acquisition enables Evotec to provide its customers with “an even better and more complete translation process from the discovery stage to the clinical manufacturing,” according to Dr. Werner Lanthaler, Evotec CEO.

"We are very happy that the closing was faster than originally expected. This now brings a one-stop-solution together for our partners from target to IND and high end-CMC," Lanthaler told us.

Evotec purchased Aptuit from the private equity firm Welsh, Carson, Anderson & Stowe for a total consideration of approximately $300m (€256m).

Guidance update

Following the transaction’s closing, Evotec has also updated its financial targets for 2017.

According to the company, total group revenues are expected to increase by more than 40% compared to 2016 at which time it was approximately $192.59m (€164.5m).

Additionally, adjusted group EBITDA is expected to improve from $42.38m (€36.2m) in 2016 by more than 50%. Group R&D expenses are expected to be approximately $23.41m (€20m).