Lonza announced the sale of its Capsules & Health Ingredients (CHI) business to Lone Star Funds in a CHF 2.3 billion ($3 billion) agreement that marks the latest step in the Swiss CDMO’s strategic transformation. Lonza will receive CHF 1.7 billion upfront and retain a 40% stake with preferential participation in a future exit, while committing CHF 500 million to share buybacks after proceeds are received. Wolfgang Wienand, Lonza’s CEO, framed the move as finalizing the firm’s shift to a pure‑play contract development and manufacturing organization and said proceeds will be reinvested into organic growth and targeted acquisitions.