We believe Evotec’s business is well positioned to deliver continued growth, benefiting from the ongoing trend towards outsourcing early-stage drug discovery. A key driver for future growth is via strategic alliances and Evotec has realised a number of both new and expanded agreements this year. We have raised our financial forecasts and, consequently, our valuation to €577m owing to the strong performance year to date, coupled with these collaborations. In 2016 we expect Evotec to provide an update on the future strategy.