Lonza Seeks Strategic Shift with Multi-Billion Euro Divestment

Lonza advances 'One Lonza' strategy, evaluating sale of its Capsules & Health Ingredients unit to focus on high-growth CDMO biologics and cell/gene therapy segments.

The Swiss life sciences group Lonza is advancing a significant strategic overhaul, with plans to divest a major division potentially valued at approximately 2.5 billion euros. This move underscores the company's commitment to refining its business model and concentrating on its core pharmaceutical contract development and manufacturing (CDMO) operations.

Strategic Refocus Under "One Lonza" Initiative

This potential sale is a direct implementation of the "One Lonza" strategy, announced in December 2024, which aims to streamline the corporate portfolio by 2025. The objective is a sharper focus on high-growth CDMO segments, including biologics and cell and gene therapies. Lonza has been channeling investments into areas like antibody-drug conjugates (ADCs) to strengthen its offering for drug developers.

The division in question is the Capsules and Health Ingredients (CHI) unit. Reports indicate that Lonza is actively evaluating its sale and has engaged Bank of America and Centerview Partners to manage the process. While a final decision is pending, several private equity firms, including Lone Star, Altaris LLC, and One Rock Capital Partners from the United States, have reportedly shown preliminary interest.

Financial Performance Validates Strategic Direction

The company's recent financial results provide a strong backdrop for this strategic pivot. For the full year 2025, Lonza reported currency-adjusted sales growth of 21.7%, bringing total revenue to 6.5 billion Swiss francs. Its operational profitability, measured by CORE EBITDA margin, reached a robust 31.6%.

Management has issued confident guidance for the ongoing 2026 fiscal year. The company forecasts currency-adjusted sales growth between 11% and 12%. Furthermore, it expects the core EBITDA margin to expand further, targeting a level above 32%. These ambitious targets reflect executive confidence in the refocused, CDMO-centric strategy and its effective execution.

The planned divestment of the CHI business represents a decisive step in Lonza's transformation. By potentially unlocking 2.5 billion euros in capital, the company aims to reinforce its position as a specialized partner in the complex and rapidly evolving pharmaceutical manufacturing landscape.