Post-Structural Overhaul, Lonza Inc. Finds Its New Focus
1/24/2014 6:58:37 AM
Swiss speciality chemicals maker and life sciences group Lonza said it plans to focus on the pharmaceutical and biotech market as it benefits from drugmakers increasingly outsourcing production. The firm, faced with low-cost competition, a strong Swiss franc and higher raw material prices, has been undergoing a structural overhaul since Richard Ridinger took over as Chief Executive in May 2012. Last year, it shut down plants, cut jobs and exited projects including a generic drugs venture with Israel's Teva to try and improve profitability and productivity.
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