BRI: Lonza – Counting Capacity Supports Bullish Stance on Lonza’s Growth Trajectory

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Lonza – Counting Capacity Supports Bullish Stance on Lonza’s Growth Trajectory

Jefferies’ deep dive analysis of biologics manufacturing capacity suggests a near doubling from 2015 to 2025E, largely driven by contract manufacturing organizations (CMOs). Lonza (LONN SW) should remain one of the largest biologic CMOs, and despite aggressive competitors, Jefferies remains confident Lonza is well-placed with a winning strategy in this increasingly complex space. Importantly, future industry capacity seems about right-sized for more approvals. Raising PT +5% to CHF395.  FULL REPORT

Peter Welford, European Pharmaceuticals and Biotechnology