Chr. Hansen Reports 2Q Results, Announces Pharma Joint Venture With Lonza; Shares Rich
Chr. Hansen reported second-quarter and semiannual results for fiscal 2019 with group sales growth of 8% (6% volume, 2% pricing) and 7% (6% volume, 3% pricing), respectively, broadly in line with our estimates. The company also announced the signing of an agreement with Lonza to create a strategic joint venture in the contract manufacturing market for bacteria-based pharmaceuticals (live biotherapeutics), which bonds well with the company's aspiration to further develop its human microbiome ligh...Chr. Hansen is a biosciences group based in Denmark. Co. develops and supplies natural ingredient solutions for the food, pharmaceutical, nutritional, and agricultural industries worldwide. Co. operates in three divisions: Cultures and Enzymes (develops, produces, and sells cultures, enzymes, and probiotics for the food and dairy industries); Health and Nutrition (develops products for the dietary supplement, over-the-counter pharmaceutical, infant formula, and animal feed industries); and Natural Colors (develops natural color solutions to the food industry, primarily for the beverage, dairy, confectionery, fruit preparation and ice cream, as well as functional blends for processed meats).
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