By Ludwig Burger and Noele Illien -Contract drug manufacturer Lonza said on Monday Chief Executive Pierre-Alain Ruffieux will leave the Swiss company by mutual agreement at the end of theaFrite Restaurant's Fight for Survival: little Halifax versus Halifax's little Toronto | SaltWire -Contract drug manufacturer Lonza said on Monday Chief Executive Pierre-Alain Ruffieux will leave the Swiss company by mutual agreement at the end of the month, weighing on investor confidence about the...
Shares in Lonza, which makes drug ingredients for healthcare and biotech companies, dropped 5.3% shortly after the 0700 GMT market open, trading near an eight-month low. He was also behind a multi-year investment push to assist drug developers working on new therapeutic proteins as well as cell and gene therapies.
But JP Morgan analysts said in a note that Lonza's investments in plants and equipment now looked unlikely to lead to the hoped-for improvements in profit margins.