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Evotec Drug Development Strategy Offers Little Downside, Big Upside

Germany’s Evotec hopes to evolve into an integrated multi-service biopharma company through its three-pronged business strategy comprising a high-growth drug-discovery business, a series of pipeline options that pose no financial obligation for the biotech, and a growing list of scientific collaborations that offer potential long-term value.

Hamburg-based Evotec AG has risen like a Phoenix from the ashes in recent years to become a profitable drug-discovery business whose growth is driven by the rising trend toward outsourcing, as Big Pharma looks to improve R&D output and offset sagging revenues, margin pressure, and more demanding regulators.

For most of its life, Evotec had focused on providing screening services to pharma on one hand and on its proprietary R&D aimed at developing new drugs on the other hand. In 2000, the biotech acquired the chemical services company Oxford Asymmetry International PLC and became a leading provider of drug-discovery services. (See [A#2000900225]

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