Bloomberg News

Evotec Shares Surge in Frankfurt on Roche Alzheimer’s Deal

September 06, 2011

Sept. 6 (Bloomberg) -- Evotec AG rose the most in more than two years in Frankfurt trading after selling rights on the experimental Alzheimer’s treatment EVT 302 to Roche Holding AG.

Evotec gained as much as 18 percent, and traded up 31 cents, or 17 percent, to 2.15 euros as of 9:06 a.m.

The German drug research company will get an initial $10 million from Roche and potentially $820 million if development and sales goals are met under the terms of the deal announced late yesterday. Evotec raised its sales forecast for the year as a result of the payment.

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net


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