Jul 19th 2012 - Edison Investment Research today published a report on Evotec entitled "Continuing Evolution To Drive Growth". In summary, the report says:
Evotec is building on the success of its four-year plan, “Evotec 2012”, during which it was transformed from being loss making to being increasingly profitable. The new strategic plan – Action Plan 2016 – is equally ambitious, but achievable. The goal is to double revenues by 2016 at the latest, increase the operating margin to c 15% and develop a more mature pipeline. Innovation is a key element, and Evotec has already launched a novel therapeutic antibody development service, EVOmAb. However, we reduce our valuation by €29m to €455m, mainly due to concerns about the effect of the restructuring programme at Roche on EVT 302’s development.
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