Contract manufacturer Lonza has completed its acquisition of two Cambrex subsidiaries, research bioproducts and microbial biopharmaceutical, in a move that is fuelled by its strategic move into biopharmaceuticals.
The $460m (€354.2m) deal was announced in October 2006 but was not closed until 5 February, following the consent of Cambrex shareholders.
Lonza said its existing biopharmaceuticals business sector would integrate the microbial biopharmaceutical division's expertise within microbial fermentation, to support its growth.
In contrast, the research bioproducts division will be renamed as 'Lonza Bioscience' and will operate as a stand-alone business unit. The division has a leading position within endotoxin detection, cell-based research and cell therapy manufacturing, and is complementary to Lonza's biopharmaceuticals division.
"The closing of the Cambrex Bio-Businesses acquisitions marks an important milestone within Lonza's transformation into a focused life sciences company," said Stefan Borgas, CEO of Lonza.
"Together we will build upon Lonza's track record to deliver outstanding products and services to support our customer's research and manufacturing processes, and extend our reach further with the addition of the new Bioproducts business. By joining forces globally, we strengthen Lonza's strategic position and our growth potential as a worldwide leader servicing our life sciences customers."