Evotec AG Sells its Chemical Development Business to Aptuit, Inc. for GBP 31.5M (Approx. EUR 46.4M; US$ 63.9M) in Cash

HAMBURG, Germany & GREENWICH, Conn. & OXFORD, United Kingdom--(BUSINESS WIRE)--Evotec AG (Frankfurt Stock Exchange: EVT) announced today that it has sold its Chemical Development Business to Aptuit, Inc., Greenwich, CT, US, for approximately EUR 46.4 million (approx. US$ 63.9 million) in cash. The Chemical Development business comprises Evotec’s capabilities in process research & development (PRD), custom preparation, analytical development, pilot plant manufacturing and formulation. With approximately 210 people based in Oxford and Glasgow, UK, this business generated EUR 26.8 million of third-party revenues (40% of 2006 total Group revenues) for the full-year 2006. Aptuit intends to retain all of the employees of the Chemical Development business.