Print
Email
Print Edition StoriesFriday, August 21, 2009
Lonza Group aims to buy Patheon
By Mass High Tech staff
MHT's Julie Donnelly: Life science startups finding investments
MHT's Marc Songini: Technology to keep seniors healthy
MHT's Marc Songini: Researchers focus on macular degeneration
Lonza Group AG, the Swiss parent company of New England firms Lonza Biologics Inc. and Lonza Rockland Inc., has submitted a proposal to buy Patheon Inc., a North Carolina-based pharmaceuticals developer and manufacturer.
The proposal calls for Lonza to pay $3.55 per restricted voting share for all of Patheon’s restricted voting shares. Lonza officials said the acquisition, if accepted, would give the pharmaceutical manufacturing contractor greater supply chain coverage.
Lonza Group owns a number of businesses worldwide. Local to New England, Lonza Biologics, in Hopkinton and Portsmouth, N.H., makes monoclonal antibodies and recombinant proteins used in pharmaceuticals. Rockland, Maine-based Lonza Rockland, part of Lonza Bioscience, makes products for cell-based assay markets.
Lonza and Patheon have signed a confidentiality agreement, and Patheon is obligated to refrain from negotiations with other companies until Sept. 30.
Lonza moved to Portsmouth in 1996 through its acquisition of Celltech Biologics PLC, obtaining a 56,000-square-foot space at Pease International Tradeport. It completed a 300,000-square-foot expansion with three added 20,000-liter bioreactors in 2004, and in 2006 said it would expand at the site again.
RSS Feeds
Comments
Please Login/Register to post comments.
No comments have been added or approved.