Lonza Trims Portfolio To Nutrition, Pharma, Biotech; Equity Groups Acquire Specialty Business
Private equity firms Bain Capital and Cinven Group Ltd. agree to acquire Lonza’s specialty ingredients business for $4.72Bn. Lonza says it will focus on its pharma, biotech and nutrition business, including a nutraceutical capsule manufacturing operation.
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Action responds to methanol contamination in hand sanitizers manufactured in Mexico and marketed in the US under numerous brands that followed a loosening standards for the products to drive a swift increase in production and meet surging demand during the coronavirus pandemic.
Agency says compounding pharmacies are more familiar with standards and methods for producing drug products than “untrained consumers.” It will allow operations that might otherwise get sanctioned for marketing adulterated drugs because their products likely are better than some remedies consumers are making. It is aware consumers are experiencing difficulties accessing alcohol-based hand sanitizers and are concocting their own hand sanitizers.
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