Swiss Franc and regulators hit Lonza

Lonza said currency exchange to the Swiss Franc was having a impact despite solid sales in Q3. In its Custom Manufacturing business, Lonza said its capacity utilisation and project pipelines continue to increase. In its chemicals manufacturing Lonza has almost 300 projects in the pipeline and is seeing utilisation of almost 75%. In biological manufacturing Lonza has about 240 projects and capacity utilisation just over 75%. The company said the overall positive outsourcing trend it is seeing is counterbalanced by ongoing volatility due to more stringent drug approvals by regulatory authorities, especially in chemical custom manufacturing.
Reuters