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Edison Investment Research

Leading International Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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<p>Evotec ended 2016 with the landmark deal with Celgene for Evotec&#8217;s induced pluripotent stem cell (iPSC) platform, bringing in a $45m upfront payment. Other recent highlights were Novo A/S&#8217; &#8364;90.3m investment in the company and the acquisition of Cyprotex, an ADME-Tox and DMPK specialist that will enhance Evotec&#8217;s core service offering and also add new clients. Evotec&#8217;s Q316 results were solid, with better-than-expected margins being the main surprise for us, which prompted us to upgrade our forecasts and raise our valuation to &#8364;1.2bn.</p>

Evotec ended 2016 with the landmark deal with Celgene for Evotec&#8217;s induced pluripotent stem cell (iPSC) platform, bringing in a $45m upfront payment. Other recent highlights were Novo A/S&#8217; &#8364;90.3m investment in the company and the acquisition of Cyprotex, an ADME-Tox and DMPK specialist that will enhance Evotec&#8217;s core service offering and also add new clients. Evotec&#8217;s Q316 results were solid, with better-than-expected margins being the main surprise for us, which prompted us to upgrade our forecasts and raise our valuation to &#8364;1.2bn.

Upgraded on healthy cash flows post acquisition

Germany

Evotec AG offers drug research, development, and manufacturing services.  The Company offers assay development and screening and compound optimization services to pharmaceutical companies.  Evotec also develops drugs on its own for out-licensing.

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Evotec AG (EVT GR)

Upgraded on healthy cash flows post acquisition

Evotec ended 2016 with the landmark deal with Celgene for Evotec’s induced pluripotent stem cell (iPSC) platform, bringing in a $45m upfront...

Edison Investment Research

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