Evotec completes Aptuit acquisition

By Melissa Fassbender contact

- Last updated on GMT

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

Related tags: Completeness

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).

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