FY Revenues: CHF 3.6 billion (-4%)
FY Earnings: CHR 87 million (-44%)
Comments: Pharma & Biotech sales, which include Lonza’s custom manufacturing and Bioscience sectors, were down 8% to CHF 1.4 billion. Revenues were impacted by product portfolio optimizations and the initiation of several major projects. The first quarter saw a scheduled production stop for the build-out at the company’s ADC plant in Visp. Its large-scale mammalian cell culture facility in Singapore implemented multiple plant adaptations, and the company began the phasedown of the Hopkinton, MA microbial biologics plant, which incurred restructuring costs of CHF 46 million. Specialty Ingredients sales were CHF 2.2 billion, down 1%.