October 26, 2017 / 5:19 AM / a year ago

Lonza confirms 2017 targets as Capsugel integration on track

ZURICH, Oct 26 (Reuters) - Swiss drug ingredients maker Lonza on Thursday confirmed its 2017 targets following what it called a “strong performance” in the first nine months of the year, while adding integration of its $5.5 billion Capsugel purchase is on track.

Lonza’s 2017 targets call for high-single-digit sales growth, core earnings before interest, tax, depreciation and amortisization (EBITDA) above 1 billion Swiss francs ($1.01 billion), double-digit core EBIT growth significantly above sales growth, and core return on net operating assets above the 21.5 percent in 2016.

“Lonza sustained strong performance and growth of the company in the first nine months of the year,” Chief Executive Richard Ridinger said without giving any detailed results. “Our focus now is on the successful integration of Capsugel.” ($1 = 0.9886 Swiss francs) (Reporting by John Miller; Editing by Michael Shields)

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