瑞士合同服务提供商龙沙退出胶囊业务，专注于药物开发-动脉网

Swiss Contract Service Provider Lonza Exits Capsules Business To Focus On Drug Development

benzinga 等信源发布 2024-12-12 12:46

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European pharma service provider Lonza Group Ltd LZAGY LZAGF announced plans to exit its Capsules & Health Ingredients (CHI) business.

欧洲制药服务提供商Lonza Group Ltd LZAGY LZAGF宣布计划退出其胶囊和健康成分（CHI）业务。

Full implementation is expected by second quarter of 2025.

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The decision coincides with the company’s strategy to focus on contract development and manufacturing organization (CDMO). Lonza expects EBITDA margins exceeding 30% for its CDMO segment beyond 2025.

该决定与该公司专注于合同开发和制造组织（CDMO）的战略相吻合。Lonza预计2025年后CDMO部门的息税折旧摊销前利润率将超过30%。

William Blair writes that the decision to divest its CHI business and reorganize the CDMO business “rids Lonza of the main drag” and “creates a much cleaner and more compelling pure-play CDMO story.”

威廉·布莱尔（WilliamBlair）写道，剥离CHI业务并重组CDMO业务的决定“消除了Lonza的主要阻力”，并“创造了一个更干净、更引人注目的纯游戏CDMO故事”

The new structure aims to simplify operations by transitioning from three divisions and nine business units to three integrated business platforms: Integrated Biologics, Advanced Synthesis, and Specialized Modalities.

新结构旨在通过从三个部门和九个业务部门过渡到三个综合业务平台来简化运营：综合生物制剂，高级合成和专业模式。

The Integrated Biologics platform will consolidate Mammalian and Drug Product Services, while Advanced Synthesis merges hybrid chemistry and biology solutions, incorporating the Small Molecules division and Bioconjugates.

集成生物制剂平台将整合哺乳动物和药物产品服务，而高级合成将混合化学和生物学解决方案融合在一起，结合了小分子部门和生物缀合物。

Specialized Modalities will be focused on cell and gene therapies, mRNA, and microbial solutions.

专门的模式将集中于细胞和基因疗法，mRNA和微生物解决方案。

2024 and Beyond: Growth Outlook

2024年及以后：增长前景

Lonza maintained its 2024 guidance of flat constant exchange rate (CER) sales growth and a CORE EBITDA margin between 27% and 29%, with CDMO performance offsetting softness in the CHI segment.

Lonza维持了2024年固定汇率（CER）销售增长持平的指导方针，核心息税折旧摊销前利润率在27%至29%之间，CDMO业绩抵消了CHI板块的疲软。

For 2025, Lonza projects CER sales growth approaching 20%, supported by the acquisition of the Vacaville site and organic growth in the low teens.

2025年，Lonza预计CER销售额增长率将接近20%，这得益于收购瓦卡维尔工厂和低收入人群的有机增长。

Beyond 2025, the company anticipates low-teen percentage CER sales growth.

2025年以后，该公司预计青少年CER销售增长率较低。

For CHI, Lonza expects modest growth and a gradual return to higher margins post-2025.

对于CHI而言，Lonza预计2025年后会出现适度增长，并逐渐恢复较高的利润率。

Lonza reaffirmed its commitment to a dividend policy with a payout ratio of 35-45%.

Lonza重申其对股息政策的承诺，派息率为35%-45%。