Salem Radio Network News Thursday, May 19, 2022

Business

Lonza’s full-year core EBITDA up 20.7% on vaccine demand

By Ludwig Burger

(Reuters) -Swiss drug contract manufacturer Lonza said core earnings gained 20.7% in 2021, shored up by demand for the substances it supplies for new mRNA COVID-19 vaccines.

Full-year core earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 1.67 billion Swiss francs ($1.82 billion), up from 1.38 billion a year earlier, it said in a statement on Wednesday. That was broadly in line with an analyst consensus posted on its website.

The company, which is a key supplier of vaccine maker Moderna, is stepping up investments as it banks on long-term growth in the biopharmaceuticals sector well beyond the pandemic. [nL8N2R81GF]

For this year, Lonza predicted “low to mid-teens” sales growth, when excluding currency swings, as well as core EBITDA margin improvement from 30.8% in 2021.

(Reporting by Ludwig BurgerEditing by Riham Alkousaa, editing by Kirsti Knolle)

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