logo
  

Evotec To Buy Central Glass Germany GmbH

Evotec AG (EVTCY.PK,EVOTF.PK), a German drug maker, said on Thursday that it is acquiring Central Glass Germany GmbH from the Japanese chemical maker, Central Glass Co. Ltd.

"The contract was signed on 24 August at a purchase price of EUR 1," the company said in a statement.

The acquisition enables the Hamburg-based firm to expand its clinical and commercial manufacturing platform for small molecule therapeutics.

With this transaction, to be closed on November 1, Evotech expects to achieve earnings accretion by 2023-24.

In the future, Evotec also intends to further invest in the site to establish the facility as a European center for rare disease drug substance manufacturing.

The Central Glass Germany will operate as Evotec Drug Substance GmbH. The Company is located on a pharmaceutical manufacturing campus in Halle/Westphalia, Germany.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
United Airlines and Archer Aviation Inc. announced plans to launch the first commercial electric air taxi route in Chicago, between O'Hare International Airport or ORD and Vertiport Chicago. As part of their urban air mobility or UAM network buildout, both companies will utilize Archer's electric vertical takeoff and landing or eVTOL aircraft in the new route. Fort Wayne, Indiana-based Perfection Bakeries D/B/A Aunt Millie's is recalling 8 ct. packages of Our Family White Hot Dog Buns citing the possible presence of undeclared sesame, a known allergen, the U.S. Food and Drug Administration said. The product comes in a printed plastic package marked with "Our Family Hot Dog Buns 8 ct." on the top and has a blue twist tie. Parsippany, New Jersey -based Ascend Laboratories LLC. is recalling Dabigatran Etcxilate capsules citing the detection of N-Nitrosodimethylamine or NDMA impurity, a probable human carcinogen, the U.S. Food and Drug Administration said. The product is used as an oral anticoagulant to lower the risk of stroke and blood clots.
Follow RTT