Lonza Group AG (SWX:LONN) entered into an agreement to acquire Genentech Manufacturing Facility in Vacaville, California from Roche Holding AG (SWX:ROG) for $1.2 billion on March 20, 2024. Under the agreement, approximately 750 Genentech employees at the Vacaville (US) facility will be offered employment by Lonza. The transaction is subject to customary closing conditions.

Upon closing, the Vacaville (US) site will be integrated into Lonza?s Biologics division, joining a network of existing mammalian manufacturing sites in Visp (CH), Slough (UK), Singapore (SG), Portsmouth (US) and Porriño (ES). The transaction is expected to close in H2 2024. As the transaction is expected to be accretive to sales growth, Lonza has updated its Mid-Term Guidance 2024 ?

2028. BofA Securities acted as financial advisors to Lonza.