BioCentury
ARTICLE | Strategy

Evotec satisfied with one big deal

August 7, 2000 7:00 AM UTC

Evotec BioSystems AG is not about to embark on a shopping spree to fulfil its ambitions of being the pharmaceutical industry's partner of choice for drug discovery and development services, notwithstanding its acquisition of Oxford Asymmetry International plc last week. Moreover, unlike other toolkit companies, Evotec has no intentions of shifting downstream into in-house product development.

Evotec (NMarkt:EVT, Hamburg, Germany) will pay E513 million ($474 million) in stock for Oxford Asymmetry (LSE:OAI, Abingdon, U.K.), a sophisticated chemical services provider (see BioCentury Extra, Monday July 31).Jorn Aldag, EVT's president and CFO, told BioCentury that the deal will provide EVT with most of the wherewithal to pursue its fully integrated drug discovery and development service model...