Roche buys Singapore facility from Lonza

Global healthcare firm Roche will buy a Singapore biologic manufacturing facility for up to $360 million from chemical and biotechnology firm Lonza , the two firms said yesterday.

Basel-based Roche will buy the facility through its San Francisco-headquartered subsidiary Genentech, which it acquired earlier this year. The acquisition price of $360 million has two components a $290 million upfront payment and a $70 million milestone-based payment.

After the takeover, the Lonza facility will be merged with Genentech Singapore's existing facility. The Lonza facility is designed to produce the bulk drug substance for Avastin, a breakthrough chemotherapy drug used to treat colon, rectal and lung cancer, which the US Food and Drug Administration approved for commercial...