TheLonzaPharma Biotech and Nutrition (LPBN) Segment drove the results, delivering 10.8% sales growth and a CORE EBITDA margin of 34.1%. Taking a closer look at LPBN, Lonza reported that despite challenges related to delayed clinical trials and decreased demand for products from academic and research institutions, there has been strong demand for programs related to the COVID-19 pandemic. Capsules and Health Ingredients, Lonza said, benefitted from a surge in demand from the nutrition market in H1.
TheLonzaSpecialty Ingredients (LSI) Segment delivered flat sales growth and an increased CORE EBITDA margin of 19.7%. The company said it has decided to divest the LSI segment through a sale process, to be initiated in H2.
Lonzaalso offered an update on its 10-year strategic collaboration with Moderna on the mRNA platform. The current focus is to manufacture a COVID-19 vaccine candidate (mRNA-1273).Lonzareported: "The collaboration has progressed at 'pandemic speed,' with technology transfer already complete, and the first mRNA GMP batch expected to be delivered in theLonzaPortsmouth (USA) facility at the end of July 2020."
“In H1 2020, we have worked diligently to maintain operations through the COVID-19 pandemic," said Albert M. Baehny, Chairman and CEO ad interim, LonzaGroup, in a press release. "We have adapted our working routines and practices to ensure the continuing safety of our employees as a top priority. Through their dedication and diligence, we have both maintained business continuity and delivered strong results."
Baehny added, "We have deployed our expertise and resources in the global response to COVID-19, and the Moderna-Lonza collaboration highlights our role as a trusted partner at this critical time. If clinical tests deliver positive results and regulatory approval is received, we are ready to support the commercial manufacture of Moderna’s mRNA-based vaccine (mRNA-1273) with our global network of facilities, alongside our broad experience and expertise. We have also continued to invest in our LPBN capabilities to support all our customers in meeting the increasing demand for new therapies and vaccines, both now and beyond the pandemic.”
Get additional details on performance and financialshere.
