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 drugmaker 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.
Source: Reuters.com