Evotec's Horizon Savings Run Ahead of Schedule as Vertex Taps Firm for povetacicept Production
Published on 11/08/2026 at 03:20 | Editorial boerse-global.de
Evotec has told investors its Horizon cost-cutting programme is tracking ahead of plan, pairing that disclosure with a clutch of partnership and pipeline updates — among them selection by Vertex Pharmaceuticals to handle commercial manufacturing of povetacicept. Shares in the German drug developer and manufacturing specialist finished Friday up 4.0%.
The Horizon efficiency drive sits inside a broader strategic framework the company laid out on Thursday. Evotec is targeting group revenue of roughly EUR 1 billion by 2030, with an adjusted EBITDA margin of 20% by the end of 2028 and above 20% by the close of 2030.
Vertex mandate and development work
The Vertex selection covers commercial-scale production of povetacicept, a programme Evotec is pursuing in tandem with the US Department of Defense. Alongside that win, the company reported advances across its collaborations and development programmes.
Third-quarter and nine-month figures
Revenue for the third quarter of 2026 came in at EUR 164.9 million, with adjusted group EBITDA at minus EUR 1.6 million. Over the first nine months of the year, sales reached EUR 465.0 million and adjusted group EBITDA showed a loss of EUR 44.3 million. According to dpa-AFX, the preliminary nine-month numbers beat market expectations.
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Net sales in the D&PD base core business ran 24% above the prior-year comparative period, the company said.
Management reaffirmed full-year guidance on Thursday. For 2026, Evotec expects group revenue of EUR 570–610 million and adjusted group EBITDA of between minus EUR 105 million and minus EUR 70 million.
Berenberg lifts target
Berenberg raised its price target to EUR 3.75 from EUR 3.60 on Friday while keeping its "Hold" rating. Analyst Christian Ehmann tied the revision to higher estimates for the current financial year and anticipated lower capital expenditure.
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The next confirmed date on the corporate calendar is Evotec's participation in BioEurope 2026 in Cologne, running from 09.11.2026 to 11.11.2026.
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