ZURICH (Reuters) – Swiss contract drug manufacturer Lonza said on Wednesday it has signed an agreement to acquire the Genentech manufacturing facility in Vacaville, California, from drugmaker Roche for $1.2 billion in cash.
Lonza plans to invest around 500 million Swiss francs ($562.30 million) to upgrade the facility and enhance capabilities at the site to accommodate the next generation of mammalian biologics therapies, the company said in a statement.
($1 = 0.8892 Swiss francs)
(Reporting by Dave Graham; Editing by Miranda Murray)
