Lonza pays $5.5 bn for US capsule maker

Zurich: Swiss pharmaceuticals and life sciences group Lonza said on Thursday it had bought US capsule maker Capsugel for $5.5 billion as it focuses more on healthcare.
The deal includes refinancing Capsugel’s existing debt of $2 billion and is set to be finalised by the second quarter of 2017, Lonza said in a statement.
Buying Capsugel “meets Lonza’s strategic and financial goals”, Chief Executive Richard Ridinger said in the statement. “It accelerates our healthcare continuum strategy by giving us broader exposure to the fast-growing pharma and consumer healthcare markets,” he added. — AFP