Lonza bags Capsugel and its oral drug delivery tech for $5.5B: Biotech vet Truex named COO at Synlogic
Switzerland’s Lonza has bagged Morristown, NJ-based Capsugel for $5.5 billion in a deal designed to make the pharma industry supplier a world leader in drug delivery tech and manufacturing. The buyout gives the Swiss buyer a big role to play in the oral drug and consumer markets. It also registered as a big premium for the owner, KKR, the latest example that desirable assets in biopharma are attracting big bids — which isn’t always welcome by investors. Lonza expects to carve about $30 million in cost “synergies” as well as $15 million in annual tax savings out of the buyout. Capsugel has 3,600 staffers working in 13 facilities scattered around the globe.
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