Lonza

1H Revenues: CHF 1.7 billion (-11%)

1H Earnings: CHF 41.0 million (-105%)

Comments: Pharma and Biotech sales were down 15% to 609 million Swiss francs (CHF). The company expects to reduce CHF 100 million in costs by 2016 by restructuring its global manufacturing operations. The Swords facility was closed in the second quarter. The company is consolidating its Microbial Biologics assets and activities to its Visp site in Switzerland and will close its plant in Hopkinton, MA. The company also plans to close its Saint-Beauzire, France site in 4Q13. Results were impacted by the initiation of several major projects including a scheduled production stop at its antibody drug conjugates plant in Visp in order to increase production capacity. The expansion of the Visp facility is scheduled to come online in mid-2014.