Evotec in restructuring mode
Evotec today presented additional details on the restructuring plan on the back of the weakness in Discovery business (Shared R&D) aimed at delivering EUR 40mn annual savings from H2 2024. Evotec intends to cut 400 positions, close the operation of Halle/Westphalia, Germany, in addition to exitEvotec is a holding company engaged as a drug discovery solutions company providing drug discovery capabilities to pharmaceutical and biotechnology companies as well as to academic institutions. These drug discovery solutions are provided in form of fee-for service work, integrated drug discovery alliances, development partnerships, licensing of drug candidates and consulting arrangements. Co. is primarily involved in the areas of neuroscience, pain, metabolic diseases, oncology and inflammation. Co. provides its drug discovery activities under the banners of EVT Execute, EVT Integrate and EVT Innovate. Co.'s operations are divided into two segments: EVT Execute and EVT Innovate.
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