SK Bioscience takes majority stake in CDMO for $244M; Ex-Lonza CEO joins Cytiva

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SK Bioscience now has a 60% stake in the CDMO IDT Biologika after signing a deal with German pharma company Klocke, in a deal worth 339 billion Korean won ($244 million). Klocke will retain a 40% share in the CDMO, according to a Thursday release.

Lonza’s former CEO Pierre-Alain Ruffieux is joining Cytiva as its new chief operating officer effective July, according to a Thursday release. This is a newly created role for Ruffieux, who left Lonza in September 2023. Ruffieux will be responsible for improving the customer experience and engagement at Cytiva.

“[Ruffieux] brings unparalleled experience and a deep understanding of how suppliers positively impact the success of our pharmaceutical and biotechnology customers,” Cytiva’s CEO Chris Riley told Endpoints…
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