IHS Chemical Week

Markets :: Fine Chemicals/Biotech :: Pharmaceutical ingredients

Lonza and Patheon Extend Exclusivity and Due Diligence Period

10:44 PM MDT | September 28, 2009 | Deepti Ramesh

Lonza says pharmaceutical contract manufacturing and development services company Patheon (Toronto), and Lonza have agreed to extend the exclusivity and due diligence period until October 15, 2009 to continue discussions regarding the previously announced non-binding proposal to acquire all of the outstanding restricted voting shares of Patheon at a price of $3.55/share. The offer price values Patheon at $460 million and gives Patheon an enterprise value of $700 million. The Lonza proposal does not commit either company to complete any transaction, and the...

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