Swiss Biotech Group Lonza Profits Up 39%

Company supplies ingredients to the pharmaceutical and life sciences industries

Swiss chemicals and biotechnology group Lonza on jan. 27 reported a 39.2% increase in 2008 net profit and maintained its long-term growth targets.

Net income of 419 million Swiss francs (US$ 363 million)was boosted by the sale of an Italian subsidiary Polynt for 105 million euros.

Sales for the year grew 2.3% to 2.93 billion Swiss francs.The group's earnings before interest and tax (EBIT) in 2008 reached a record 441 million Swiss francs, up 12.1%.

"All strategic projects are on track," Lonza said, confirming its forecast for earnings growth in the mid- to high-teens until 2013.

Lonza a supplier and developer of ingredients to the pharmaceutical and life sciences industry also supplies chemicals for nutrition, agricultural and personal care products.

Copyright Agence France-Presse, 2009

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