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.
Samantha Truex, an experienced biotech vet, has joined JC Gutierrez-Ramos and the crew at Cambridge, MA-based Synlogic, an upstart microbiome player, as its new COO and head of corporate development. Truex had run the BD team at Padlock, which was bought out by Bristol-Myers Squibb back in March.
For years now scientists have been working on new stem cell therapies that have the potential to cure diabetes. Now the departing CEO of Novo Nordisk tells Bloomberg that they could have a program in the clinic in 5 years after seeing some real progress in animal research.
Shares of PacBio tanked this morning (PACB, -36%) after the company said that Roche has terminated their diagnostics deal.