Lonza Shares Jump on U.S. Manufacturing Facility Buy From Roche
Provided by
Dow Jones
By Helena Smolak
Lonza shares rose after the Swiss life-sciences company agreed to acquire a manufacturing facility in the U.S. from Roche for around $1.2 billion in cash as it seeks to boost growth of its biologics division.
At 0809 GMT, shares of Lonza were up 4.4% at CHF503.40. If maintained until close, Lonza shares would trade the highest year to date.
Lonza said Wednesday that it would raise its mid-term target for 2024-28 as the deal is expected to increase sales growth.
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
March 20, 2024 04:45 ET (08:45 GMT)
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