Lonza has revealed it has gained all regulatory approvals for its proposed acquisition of Capsugel, which the company anticipates will close over the next few days subject to the satisfaction of customary closing conditions.
Regulatory approval
The companies entered into a definitive agreement at the end of last year, when it was announced that Lonza would acquire Capsugel for $5.5 billion in cash, including refinancing of existing Capsugel debt of approximately $2 billion.
“The acquisition of Capsugel meets Lonza’s strategic and financial goals. It accelerates our healthcare continuum strategy by giving us broader exposure to the fast-growing pharma and consumer healthcare markets. We expect the transaction to be accretive to our core earnings per share in the first full year post closing,” said Richard Ridinger, chief executive officer of Lonza. “This new integrated approach will benefit our customers, who will gain from the simplicity and efficiency of working with one company that can provide world-leading support from APIs to excipients and dosage forms. The combined business will allow us to partner with our customers to help them bring highly differentiated products to market more quickly and efficiently.”
“This transaction brings together two leading companies that share a common vision — to deliver real value to customers by accelerating their ability to develop and commercialize innovative pharmaceutical and healthcare products. The combination of our complementary technology platforms will put us in a strong position to benefit from evolving trends in the pharma and consumer healthcare markets,” added Guido Driesen, president and chief executive officer of Capsugel. “Both companies enjoy a strong quality and regulatory track record, and we believe that the combination enables us to provide the most complete set of tailored and integrated solutions for our customers. We look forward to bringing together our talented teams to deliver science- and engineering-based solutions to customers for the benefit of the patients and consumers who use their products. I am personally committed to making this integration a success.”