The Hamburg-based biotech company Evotec is expected to record a lower operating profit due to revenue shortfalls. The reason is the shift in performance-based payments in the pharmaceutical industry from the fourth quarter of 2013. So far for 2012, Evotec had made an operating profit of EUR 5.8 million in the previous year.
Collaborations with pharmaceutical companies in drug discovery are the core business of Evotec. If research programs progress, the company gets what are called milestone payments from pharmaceutical manufacturers. Information on specific programs that are behind the delay was not available from Evotec. Founded in 1993, the biotech company is cooperating with the Swiss pharmaceutical company Roche, the Belgian pharmaceutical company UCB, Swiss Novartis and Ono Pharmaceutical of Japan.
[ilink url=“http://www.evotec.com/article/en/Press-releases/Ad-hoc-Shifted-Milestone-Income-Leads-to-Reduction-in-Operating-Income-Guidance-for-the-Fiscal-Year-2012/2334″] Link zur Quelle (Evotec)[/ilink]