Issue Date: October 26, 2009
Lonza Drops Its Bid For Patheon
Lonza has withdrawn its bid to acquire Patheon, a Canadian contract manufacturer of finished dosage pharmaceuticals. The Swiss firm cites various reasons, including the rejection of its bid, valued at $460 million, by JLL Patheon Holdings, a group of investors that holds 57% of the Canadian firm’s voting shares. Lonza’s acquisition of Patheon would have extended its contract services, now centered on the manufacture of active pharmaceutical ingredients, to final formulation. According to Lonza, it is still interested in adding formulation services to its offerings.
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