1st Jul 2021 19:03
(Alliance News) - Evotec SE on Thrusday said it will acquire a research and development facility in Verona, Italy from pharmaceutical firm GlaxoSmithKline PLC.
Financial terms of the deal were not disclosed.
The site will be renamed Campus Levi-Montalcini after the Italian Nobel laureate Rite Levi-Montaclini, the drug discovery and development company said.
Hamburg-based Evotec has operated at the Verona site since 2017 with nearly 750 current employees.
Campus Levi-Montalcini will stand as a full-service facility for Evotec to conduct R&D - including INDIGO, the company's service for accelerated drug development, as well as API manufacturing, pre-formulation and cCMP manufacturing.
The company sees the site as key to their global strategic framework.
Werner Lanthaler, chief executive officer of Evotec, added: "In order to truly deliver on this (Evotec's) mission, our sustainable growth strategy builds on complementary clusters of excellence. Acquiring the site will give us plenty of opportunities to further grow our business in Verona and we are proud to call the site Campus Levi-Montalcini."
Evotec shares closed down 1.0% at EUR37.84 on Thursday in Frankfurt. In London, GSK shares ended up 1.3% at 1,438.00 pence.
By Aidan Lane; [email protected]
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