Switzerland’s Lonza in talks to acquire majority stake in drug firm Aptuit Laurus
24 Mar 2010
Swiss chemical and biotechnology company Lonza is reportedly in talks to acquire a majority stake in Hyderabad-based drug firm Aptuit Laurus in a deal that could be valued at Rs400 crore.
Aptuit Laurus, is a 2007 joint venture between US-based contract drug development firm Aptuit and Hyderabad-based Laurus and has a turnover of approximately Rs270 crore.
Business Standard reported today that the Basel, Switzerland-based Lonza is in talks to acquire the 51-per cent stake of the Greenwich, Connecticut-based Aptuit Inc in Aptuit Laurus.
Lonza founded in 1897, is one of the world's leading suppliers to the pharmaceutical, healthcare and life science industries.
Listed on the SIX Swiss Exchange with 2009 sales of $2.54 billion, the 113 year-old company is also a leading provider of value chemical and biotech ingredients to the nutrition, hygiene, preservation, agro and personal care markets.
The paper, citing sources said, though the parties have not reached a final valuation, the deal size for a majority stake could be in the range of Rs350-450 crore.
C Satyanarayana, Aptuit Laurus' CEO, said that the company did not want to comment on market speculation or rumours, the paper said.
''As a rule, we do not comment on any market speculations. However, India is certainly an interesting market for Lonza and we already have activities in India,'' said Dominik Werner, media relations head of Lonza in an email reply to Business Standard.