EVOTEC WKN: 566480 ISIN: DE0005664809 Kürzel: EVT Forum: Aktien Thema: Hauptdiskussion
(Bloomberg) -- German drug developer Evotec SE is speaking to defense advisers after a decline in its share price prompted fears about the company’s vulnerability to a takeover, people with knowledge of the matter said. Multiple buyout firms have been studying Hamburg-based Evotec as a potential target, the people said, asking not to be identified because the information is private. Potential suitors are in the early stages of speaking to advisers as they evaluate Evotec and its drug pipeline, according to the people. No approaches have been made and it’s likely to be at least several months before any formal interest materializes, the people said. Shares of Evotec have fallen 66% this year, giving it a market value of about €1.3 billion ($1.4 billion). Earlier this week, they hit the lowest level since March 2017 as analysts at Intron Health downgraded the stock to “sell,” from “buy.” The company announced in January that its chief executive officer at the time, Werner Lanthaler, would be stepping down early for personal reasons. Evotec later said Lanthaler had failed to report his stock trades on time, adding the lapse was unrelated to his exit. Incoming chief executive Christian Wojczewski will take over next month and will likely assess the current situation before making any strategic decisions, the people said. Any major move would need support from Evotec’s biggest shareholders — Novo Holdings A/S, the parent company of drugmaker Novo Nordisk A/S, as well as Abu Dhabi sovereign fund Mubadala Investment Co. Evotec has partnered with larger healthcare firms like Novo Nordisk, Bristol-Myers Squibb Co. and Eli Lilly & Co. The company has been devleoping treatments targeting areas including chronic kidney disease and metabolic disorders. Deliberations are ongoing and there’s no certainty any transaction will result, the people said. A representative for Evotec declined to comment.
(Bloomberg) -- German drug developer Evotec SE is speaking to defense advisers after a decline in its share price prompted fears about the company’s vulnerability to a takeover, people with knowledge of the matter said. Multiple buyout firms have been studying Hamburg-based Evotec as a potential target, the people said, asking not to be identified because the information is private. Potential suitors are in the early stages of speaking to advisers as they evaluate Evotec and its drug pipeline, according to the people. No approaches have been made and it’s likely to be at least several months before any formal interest materializes, the people said. Shares of Evotec have fallen 66% this year, giving it a market value of about €1.3 billion ($1.4 billion). Earlier this week, they hit the lowest level since March 2017 as analysts at Intron Health downgraded the stock to “sell,” from “buy.” The company announced in January that its chief executive officer at the time, Werner Lanthaler, would be stepping down early for personal reasons. Evotec later said Lanthaler had failed to report his stock trades on time, adding the lapse was unrelated to his exit. Incoming chief executive Christian Wojczewski will take over next month and will likely assess the current situation before making any strategic decisions, the people said. Any major move would need support from Evotec’s biggest shareholders — Novo Holdings A/S, the parent company of drugmaker Novo Nordisk A/S, as well as Abu Dhabi sovereign fund Mubadala Investment Co. Evotec has partnered with larger healthcare firms like Novo Nordisk, Bristol-Myers Squibb Co. and Eli Lilly & Co. The company has been devleoping treatments targeting areas including chronic kidney disease and metabolic disorders. Deliberations are ongoing and there’s no certainty any transaction will result, the people said. A representative for Evotec declined to comment.
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