Roche enters into a definitive agreement with Lonza, which will acquire the Genentech manufacturing facility in Vacaville, California, USA

Basel, 20 March 2024 - Roche (SIX: RO, ROG; OTCQX: RHHBY) announced today that it has entered into a definitive agreement with Lonza, under which Lonza will acquire the Genentech manufacturing facility in Vacaville, California, USA, for USD 1.2 billion in conjunction with a manufacturing agreement and related quality services and warehousing.Under the terms of the agreement, the approximately 750 Genentech employees at the Vacaville facility will be offered employment by Lonza and the products currently produced at the site by Roche will continue to be supplied by Lonza for a transition period.“We decided to divest our Vacaville site as part of our long-term network strategy and optimisation plan, to deliver a more diversified portfolio including new drug modalities,” Susanne Hundsbaek-Pedersen, Global Head of Pharma Technical Operations, stated. “Having gone through a competitive d iligence process with multiple potential strategic partners for the facility, we believe that Lonza is the ideal owner for the Vacaville site to continue producing innovative medicines for patients in need. We are particularly pleased that the employees at the site will be offered employment by Lonz a.”Subject to the completion of applicable regulatory approvals and subsequent transition preparations, the transaction is expected to close by H2 2024.About RocheFounded in 1896 in Basel, Switzerland, as one of the first industrial manufacturers of branded medicines, Roche has grown into the w...
Source: Roche Investor Update - Category: Pharmaceuticals Source Type: news