Lonza Boots Out CEO as 2011 Profit Plunges

Swiss drugs industry supplier Lonza kicked out chief executive Stefan Borgas after profits for 2011 plunged by a third and said 2012 was set to pose further challenges because of the difficulties faced by pharmaceutical firms. The Basel-based group, which is battling currency headwinds and volatile raw material prices, said the board took the decision to replace Borgas in the last 48 hours. Source: Biospace. 25/1/2012