Dynamic growth in 2000 for Evotec

Evotec BioSystems of Germany has posted a 189% rise in sales to 28.3million euros ($40.1 million) for 2000, with the fourth quarter of the year in particular being boosted by revenues from recently-acquired Oxford Asymmetry International of the UK (Marketletters passim). Before the consolidation of OAI, Evotec's sales after nine months amounted to 9.8 million euros and, for the full-year, the firm noted that 57% of its sales were in Europe and 42% in the USA.

Evotec's net loss for 2000 reached 47.1 million euros but the firm pointed out that, excluding extraordinary charges resulting from the acquisition of OAI and that of Germany's Genion (Marketletter July 3, 2000), the net loss stood at 12.5 million euros compared with 9.5 million euros in 1999. R&D expenses rose 42.3% to 18.5 million euros.

Further sales growth expected for 2001