Feb 05th 2013 - Edison Investment Research today published a report on Evotec entitled "Advances In Action Plan 2016". In summary, the report says:
Evotec is making good progress to achieving its Action Plan 2016 goals following a flurry of activity since the middle of November. It has out-licensed its NMDA antagonist portfolio (including EVT100 family) to Janssen Pharmaceuticals (J&J), formed three new drug discovery alliances and begun a collaboration with Yale, and achieved two milestones. The Janssen licensing agreement should result in Evotec having another product in clinical development by the end of the year. Despite this progress, we have lowered our estimates following the reduction in guidance in October to be more conservative. So, our valuation is reduced by €55m to €430m.
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