Evotec says Sanofi deal makes it anti-infectives powerhouse
It’s taken more than three months to work through the detail, but Sanofi has now signed a deal to transfer its anti-infectives unit to Evotec.
The main elements of the agreement remain unchanged form when it was announced in March. Around 100 Sanofi employees will go onto Evotec’s payroll but will stay at the its site in Lyons, and more than 10 infectious disease R&D programmes will be transferred to the German biotech. Sanofi is also stumping up €60m in initial funding and says it will provide “significant” ongoing support without specifying numbers.
The deal comes after extensive negotiations with France’s powerful unions and government officials over the job security of the French employees under their new management, and the deal includes “specific long-term commitments of employment,” according to Evotec. It’s been reported that that includes five-year employment contracts.
Read more: http://www.pmlive.com/pharma_news/evotec_says_sanofi_deal_makes_it_anti-infectives_powerhouse_1240361
The main elements of the agreement remain unchanged form when it was announced in March. Around 100 Sanofi employees will go onto Evotec’s payroll but will stay at the its site in Lyons, and more than 10 infectious disease R&D programmes will be transferred to the German biotech. Sanofi is also stumping up €60m in initial funding and says it will provide “significant” ongoing support without specifying numbers.
The deal comes after extensive negotiations with France’s powerful unions and government officials over the job security of the French employees under their new management, and the deal includes “specific long-term commitments of employment,” according to Evotec. It’s been reported that that includes five-year employment contracts.
Read more: http://www.pmlive.com/pharma_news/evotec_says_sanofi_deal_makes_it_anti-infectives_powerhouse_1240361