Lonza Takes More Restructuring Steps

The Swiss fine chemicals producer Lonza is continuing the restructuring process begun by new CEO Richard Ridinger. The company is ending a joint venture with Teva Pharmaceutical Industries to develop so-called biosimilar biologic drugs, saying the process will cost more than initially planned. Lonza is also closing its microbial biologics manufacturing plant in Hopkinton, Mass., and consolidating microbial operations in Visp, Switzerland. And the firm says it will consider selling the wood treatment chemicals business it acquired with its 2011 purchase of Arch Chemicals.