On January 28, 2026, global CDMO giant Lonza released its full-year 2025 performance results in Zurich. The company reported CDMO business revenue of CHF 6.531 billion (approximately $7.28 billion), marking a 21.7% increase year-on-year when adjusted for constant exchange rates. Core EBITDA surpassed CHF 2.064 billion, with a profit margin of 31.6%, up 1.4 percentage points from 2024.
Lonza also made significant investments to expand production capacity. Between 2020 and 2025, the company allocated CHF 10 billion (approximately $11.1 billion) to further develop its U.S., European, and Asian markets, creating a globally integrated manufacturing network that covers all major demand regions—North America, Europe, and Asia.
Additionally, the company made substantial strides in its large-scale projects. These included launching commercial-scale bioconjugation production lines at the Visp facility in Switzerland, large-scale sterile filling lines at the Stein facility in Germany, and advancing cell therapies for diabetes at the Portsmouth site in the U.S. The company's global production capacity for mammalian cells, microbes, and ADCs (antibody-drug conjugates) is now running at 90% utilization, turning Lonza's order backlog into tangible results.
Integrated Biologics emerged as the primary growth driver, contributing 55.9% of sales and 62.4% of EBITDA, with a core growth rate of 32.2%. This platform capitalized on strong demand for mammalian cell culture and drug formulation services, bolstered by the recent acquisition of the Vacaville facility. The U.S. market accounts for over 35% of its mammalian cell CDMO capacity, aligning well with the trend toward regionalized supply chains.
Advanced Synthesis represents a high-profit segment, contributing 24.7% of sales but 32.7% of profit, with a 41.8% profit margin, up 5.2 percentage points from the previous year. This growth was driven by rapid expansion in bioconjugates and high-potency APIs (HPAPIs), with scale and operational efficiencies continuing to improve.
Specialized Modalities faced short-term challenges from a slowdown in Cell and Gene Therapy (CGT) business, with sales dropping by 3.0%. However, the sector showed signs of recovery in Q2, with microbial and bioscience operations returning to growth. Profit margins in this segment stabilized at 17.0%, supported by cost control measures, with expectations of a rebound in 2026.
In terms of business mix, preclinical and Phase I projects accounted for approximately 10% of revenue, focusing on early-stage drug development. Phase II projects made up about 20%, bridging early research with later-stage commercialization, while Phase III and commercial production contributed 70% of revenue, providing scalable manufacturing services.
Preclinical Stage: Lonza’s technology platforms cover nine areas, including mammalian cells, microbes, CGT, and mRNA, addressing over 90% of innovative clinical pipelines. The company offers early-stage research and discovery services using cutting-edge science and a digital ecosystem.
Clinical Stage: Lonza boasts a 99% retention rate for clinical projects (adjusted for clinical failures), with Phase I/II projects growing at 50%, and Phase II/III at 35%. The company’s end-to-end execution capacity ensures seamless transitions from R&D to clinical trials.
Production Stage: With a globally leading manufacturing network, Lonza operates multiple sites across North America, Europe, and Asia. Over 35% of its U.S. mammalian CDMO capacity is focused on commercialization, with more than 80 commercial projects delivered annually. Large-scale facilities like Vacaville help increase fermentation capacity to over 450,000 liters, while flexible production capabilities cater to small-scale, pilot, and large-scale manufacturing needs to meet regionalized supply chain demands.
North America remains a key revenue driver for Lonza. Thanks to the U.S. Biodefense and Biotech Safety Act, Lonza successfully secured several overflow orders through its U.S. facilities in Vacaville, Houston, and New Hampshire. In 2025, North America accounted for an increased share of revenue, with new U.S. orders growing by over 25% year-on-year, becoming a critical contributor to Lonza’s 20% revenue growth.
As the global CDMO industry shifts from being "industry-intensive" to "technology-intensive," the competition between Lonza and Samsung Biologics is expected to intensify. Meanwhile, WuXi AppTec, with its differentiated competitive strategy in the CRDMO (Contract Research, Development, and Manufacturing Organization) full industry chain, remains a leader in another sector of the market.
[1]. https://www.lonza.com/investor-relations/~/media/82814A1852E7470398E0881C6189BC1A
