Evotec has announced that it will be continuing with its multistage strategic transformation by initiating the next phase, dubbed “Horizon,” which will simplify operations and achieve sustainable growth through layoffs and a reduction in the total number of locations.
Between 2024 and 2025, the company closed five of its 19 sites as part of its “Priority Reset” and it will reduce further sites from 14 to 10 over the next two years. The life science company has said that it will be reorganizing its global expertise into Centers of Excellence that focus on high-value segments of drug discovery and preclinical development. Along with these measures, the company will be carrying out a workforce adjustment that will affect 800 positions across all sites.
Evotec intends to complete most of the initiative by the end of 2027. It expects the changes to lead to €75 million in savings by the end of that year, which is higher than market growth.