Lonza results miss estimates, fires CEO

Lonza has reported its full year 2011 revenues before the Arch acquisition of CHF2.5m, up 5% in constant exchange rates, missing analyst estimates. The company also announced that its CEO, Stefan Borgas, would be leaving the company with immediate effect. Lonza's share price fell 13% on the day the results were announced. Lonza said its custom manufacturing continued to benefit from demand for outsourcing from pharmaceutical and biotech companies. The company said its capacity utilisation rate for small molecules was 78% and for biological molecules was 87% excluding the recently opened Singapore facility and it had increased the number of contracts it had signed.
Outsourcing Pharma