Stock Markets56 minutes ago (Jul 02, 2021 01:25AM ET)© Reuters. FILE PHOTO: The logo of Swiss pharmaceutical group Lonza is seen at its headquarters in Basel, Switzerland March 2, 2020. REUTERS/Arnd Wiegmann/File Photo
ZURICH (Reuters) – Lonza has completed the divestment of its specialty ingredients business to Bain Capital and Cinven for an enterprise value of 4.2 billion Swiss francs ($4.53 billion), the Swiss contract drug maker said on Friday.
The deal, announced in February, came as the Swiss contract drug manager pledged to focus on its faster-growing drugs and biotech unit.
“As the divestment of the Specialty Ingredients business completes, at Lonza we have an opportunity to consolidate our identity and redouble our focus on long-term growth,” Chairman Albert Baehny said in a statement on Friday.
($1 = 0.9262 Swiss francs)Lonza completes $4.5 billion specialty ingredients divestmentAdd a Comment