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.

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